Consider the following account balances in thousands for the Canseco Company:
Concepts Beginning of x $ End of x $
Direct materials inventory
Workinprocess inventory
Finished goods inventory
Concepts For Year x $
Purchases of direct materials
Direct manufacturing labor
Indirect manufacturing labor
Plant insurance
Depreciation, plant building and
equipment
Repairs and maintenance plant
Marketing, distribution, and customer
service costs
General and administrative costs
Required:
Calculate cost of goods manufactured for xusing the T account format orand
the table format shown in the theory slides
Prepare the income statement for x calculate the total revenues needed to earn a
target gross margin of over revenues
