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ACC 206 Week 2 Chapter 3 Exercise 5 Schedule of cost of goods manufactured, income statement http://www.helpfultutorial.com/product/acc206-week-2-chapter-3-exercise-5-scheduleof-cost-of-goods-manufactured-incomestatement/ Chapter 3 Exercise 5: Schedule of cost of goods manufactured, income statement The following information was taken from the ledger of Jefferson Industries, Inc.: Direct labor

$85,000

Selling Administrative expenses $59,000 34,000 expenses Work in. process

Sales

300,000


Jan. 1 29,000 Finished goods

Dec. 31 21,000 Jan. 1

115,000

Direct material purchases 88,000 Dec. 31

131,000

Depreciation: factory 18,000 Raw (direct) materials on hand Indirect materials used 10,000 Jan. 1

31,000

Indirect labor 24,000 Dec. 31

Factory taxes

40,000


8,000

Factory utilities 11,000

Prepare the following: •

a.

A schedule of cost of goods manufactured for the year ended December 31.

An income statement for the year ended December 31.


Acc 206 week 2 chapter 3 exercise 5 schedule of cost of goods manufactured, income statement