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DATA SECTION: For the Month Ended November 30, 2017 Balance Balance November 1 November 30 Raw Material Inventory $...

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Accounting

DATA SECTION:
For the Month Ended November 30, 2017
Balance Balance
November 1 November 30
Raw Material Inventory $ 5,600 $ 4,100
Work in Process Inventory 10,200 12,800
Finished Goods Inventory     8,100    6,700

Purchases of Raw Materials $63,000
Direct Manufacturing Labor 15,000
Indirect Manufacturing Labor 32,000
Plant Insurance     8,000
Depreciation Expense - Plant, Building, and Equip. 22,000
Repairs and Maintenance - Plant     7,200
Marketing, Distribution, and Customer-Service Costs 24,000
General and Administrative Costs 19,200
Revenue 258,300
Income Tax Rate 40.00%

TASK: Prepare a cost of goods manufactured scheduleand an income statement.

Answer & Explanation Solved by verified expert
3.9 Ratings (545 Votes)
Cost of goods manufactured Beginning work in process 10200 Direct material used Beginning raw material 5600 Purchase of raw material 63000 Raw material available for use 68600 Less Ending raw material 4100    See Answer
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Transcribed Image Text

DATA SECTION:For the Month Ended November 30, 2017Balance BalanceNovember 1 November 30Raw Material Inventory $ 5,600 $ 4,100Work in Process Inventory 10,200 12,800Finished Goods Inventory     8,100    6,700Purchases of Raw Materials $63,000Direct Manufacturing Labor 15,000Indirect Manufacturing Labor 32,000Plant Insurance     8,000Depreciation Expense - Plant, Building, and Equip. 22,000Repairs and Maintenance - Plant     7,200Marketing, Distribution, and Customer-Service Costs 24,000General and Administrative Costs 19,200Revenue 258,300Income Tax Rate 40.00%TASK: Prepare a cost of goods manufactured scheduleand an income statement.

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