Advertising expense .. $ 85,000 Work In process Inventory, Dec. 31, 2018 8,000 Work In process Inventory, Dec. 31, 2019 Income taxes. Amortization expense-Factory patents 16,000 9,000 Bad debts expense 28,000 53,400 Depreclation expense-Office equipment 37,000 Indirect labor 26,000 Depreclation expense-Factory bullding 133,000 Interest expense 25,000 Depreclation expense-Factory equlpment 78,000 Miscellaneous expense 55,000 Direct labor .. 250,000 Property taxes on factory equipment 14,000 ..... Factory Insurance used up 62,000 Raw materlals Inventory, Dec. 31, 2018. 60,000 Raw materlals Inventory, Dec. 31, 2019 . Factory supervisor salary . Factory supples used (Indirect materlals). Factory utilitles. 74,000 78,000 21,000 Raw materlals purchases (direct materlals). 313,000 115,000 Repalrs expense-Factory equlpment. 31,000 Finished goods Inventory, Dec. 31, 2018 15,000 Salarles expense 150,000 Finished goods Inventory, Dec. 31, 2019 12,500 Sales 1,630,000

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter12: Intangibles
Section: Chapter Questions
Problem 13E
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The following account balances and other information are from SUNN Corporation’s accounting records for year-end December 31, 2019. Use this information to prepare (1) a table listing factory overhead costs, (2) a schedule of cost of goods manufactured (show only the total factory overhead cost), and (3) an income statement.

Advertising expense ..
$ 85,000
Work In process Inventory, Dec. 31, 2018
8,000
Work In process Inventory, Dec. 31, 2019
Income taxes.
Amortization expense-Factory patents
16,000
9,000
Bad debts expense
28,000
53,400
Depreclation expense-Office equipment
37,000
Indirect labor
26,000
Depreclation expense-Factory bullding
133,000
Interest expense
25,000
Depreclation expense-Factory equlpment
78,000
Miscellaneous expense
55,000
Direct labor ..
250,000
Property taxes on factory equipment
14,000
.....
Factory Insurance used up
62,000
Raw materlals Inventory, Dec. 31, 2018.
60,000
Raw materlals Inventory, Dec. 31, 2019 .
Factory supervisor salary .
Factory supples used (Indirect materlals).
Factory utilitles.
74,000
78,000
21,000
Raw materlals purchases (direct materlals).
313,000
115,000
Repalrs expense-Factory equlpment.
31,000
Finished goods Inventory, Dec. 31, 2018
15,000
Salarles expense
150,000
Finished goods Inventory, Dec. 31, 2019
12,500
Sales
1,630,000
Transcribed Image Text:Advertising expense .. $ 85,000 Work In process Inventory, Dec. 31, 2018 8,000 Work In process Inventory, Dec. 31, 2019 Income taxes. Amortization expense-Factory patents 16,000 9,000 Bad debts expense 28,000 53,400 Depreclation expense-Office equipment 37,000 Indirect labor 26,000 Depreclation expense-Factory bullding 133,000 Interest expense 25,000 Depreclation expense-Factory equlpment 78,000 Miscellaneous expense 55,000 Direct labor .. 250,000 Property taxes on factory equipment 14,000 ..... Factory Insurance used up 62,000 Raw materlals Inventory, Dec. 31, 2018. 60,000 Raw materlals Inventory, Dec. 31, 2019 . Factory supervisor salary . Factory supples used (Indirect materlals). Factory utilitles. 74,000 78,000 21,000 Raw materlals purchases (direct materlals). 313,000 115,000 Repalrs expense-Factory equlpment. 31,000 Finished goods Inventory, Dec. 31, 2018 15,000 Salarles expense 150,000 Finished goods Inventory, Dec. 31, 2019 12,500 Sales 1,630,000
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