The following data from the just completed year are taken from the accounting records of Kenton Company: Sales 825,000 Direct labor cost 165,000 Raw material purchases 179,000 Selling expense 48,750 Administrative expenses 46,250 Manufacturing overhead applied to work in process 180,000 Inventories: Beginning Ending Raw materials 18,000 15,000 Work in process 20,000 15,000 Finished goods 9,000 11,000 Required: Prepare Statement of Cost of Goods Manufactured and Income Statement & fill up following Blanks Manufacturing Cost Cost of Goods Manufactured Cost of Goods Sold Net Profit
The following data from the just completed year are taken from the accounting records of Kenton Company:
|
Sales |
825,000 |
|
|
Direct labor cost |
165,000 |
|
|
Raw material purchases |
179,000 |
|
|
Selling expense |
48,750 |
|
|
Administrative expenses |
46,250 |
|
|
Manufacturing overhead applied to work in process |
180,000 |
|
|
Inventories: |
Beginning |
Ending |
|
Raw materials |
18,000 |
15,000 |
|
Work in process |
20,000 |
15,000 |
|
Finished goods |
9,000 |
11,000 |
Required:
Prepare Statement of Cost of Goods Manufactured and Income Statement & fill up following Blanks
Manufacturing Cost - Cost of Goods Manufactured
- Cost of Goods Sold
- Net Profit
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