The accounting department of the Blanche Corporation provided the following data for March, 2014 Sales P 1,200,000 5% of sales Marketing expenses Administrative expenses 1% of sales P 400,000 2/3 of DL costs Purchases Factory overhead Direct labor Inventories: Finished goods Work in process Materials P 210,000 March 31 P 82,500 117,135 47,485 March 1 P 100,000 102,350 50,000 Required: In a separate sheet of paper or in a an excel file, prepare the following: (1) Income statement (2) Cost of goods sold statement.
The accounting department of the Blanche Corporation provided the following data for March, 2014 Sales P 1,200,000 5% of sales Marketing expenses Administrative expenses 1% of sales P 400,000 2/3 of DL costs Purchases Factory overhead Direct labor Inventories: Finished goods Work in process Materials P 210,000 March 31 P 82,500 117,135 47,485 March 1 P 100,000 102,350 50,000 Required: In a separate sheet of paper or in a an excel file, prepare the following: (1) Income statement (2) Cost of goods sold statement.
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 23E: Orinder Company provided the following information for the last calendar year: During the year,...
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