Financial Statements of a Manufacturing Firm
The following events took place for Rockhaven Biking Inc. during February, the first month of operations as a producer of road bikes:
Purchased $ of materials.
Used $ of direct materials in production.
Incurred $ of direct labor wages.
Applied factory overhead at a rate of of direct labor cost.
Transferred $ of work in process to finished goods.
Sold goods with a cost of $
Revenues earned by selling bikes, $
Incurred $ of selling expenses.
Incurred $ of administrative expenses.
a Prepare the income statement for Rockhaven Biking Inc. for the month ending February
Rockhaven Biking Inc.
Income Statement
For the Month Ended February
tableFor the Month Ended February Line Item Description Amount AmountRevenues
