b Prepare a schedule of cost of goods sold.
points
References
c Prepare an income statement for the year.Alexsandar Company provided the following account balances for the year ended
December all raw materlals are used in production as direct materials:
References
Inventory balances at the beginning and end of the year were as follows:
The total manufacturing cosis for the year were $; the cost of goods avallable
for sale toialed $; the unadjusted cost of goods sold totaled $; and the
net operaing income was $ The company's overapplied or underapplied
overhead is closed enilely to cost of goods sold. Hint: Prepare the income statement
and schedule of cost of goods sold first followed by the schedule of cost of goods
manufactured.
Required:
a Prepare a schedule of cost of goods manufactured.
References
b Prepare a schedule of cost of goods sold.
c Prepare an income statement for the year.
