Income Statement, Cost of Goods Manufactured
Jordan Comparry produxed floor lamps during the past calcadar year. Joctan had
Acor lamps in fixished goods inventory at the beginning of the year. Ar the end of
che year, there were Aloor lamps in finished goods inventory. The lamps sell for $
each. Jocdan's accouating records provide the following information for the past year:
Purchases of direct materials
Direct materials inventory, Jamary
Direct materials inventory, December
Direct labor
Indirect laboe
Depreciation, factory bualfing
Depreciation, factory equipment
Property taxes on the factory
Utilities, factory
Insurance on the factory
Research and development
Salary, sales sapervisor
Commissions, salespersons
Gencral administration
Work in process inventory, Jantary
Work in process inventory, December
Finished goods inveatory, January
Finished goods inventoey, Desember
Required:
Prepare a cost of goots manufacrured statemnt
Compute the cone of producing one Bocr lamp last ycar.
Prepare an incoene statement on an abociptionsosting basis.
