SRaw materialsWork in processFinished goodsBeginning Inventory$ 28,10022,20079,400Raw materials purchasesIndirect materials usedDirect laborAdditional information for the month of March follows:Manufacturing overhead appliedSelling, general, and administrative expensesSales revenueRequired 1 Required 2InventoryRequired:1. Based on the above information, prepare a cost of goods manufactured report.2. Based on the above information, prepare an income statement for the month of March.Complete this question by entering your answers in the tabs below.$ 25,30045,60068,900Sales RevenueLess: Cost of Goods SoldBeginning Finished Goods InventoryLess: Ending Finished Goods InventoryCost of Goods SoldGross ProfitBased on the above information, prepare an income statement for the month of March.Stor Smart CompanyIncome StatementFor the Month of MarchNet Income (Loss) from Operations$ 41,3001,80063,90036,00024,900237,600

The cost of goods manufactured timetable is used to determine the cost of producing goods over a…

Raw materials Work in process Finished goods $ 28,100 22, 200 79,400 Raw materials purchases Indirect materials used Direct labor Additional information for the month of March follows: $ 25,300 45,600 68,900 Manufacturing overhead applied. Selling, general, and administrative expenses Sales revenue $ 41,300 1,800 63,900 36,000 24,900 237,600

Raw materials Work in process Finished goods $ 28,100 22, 200 79,400 Raw materials purchases Indirect materials used Direct labor Additional information for the month of March follows: $ 25,300 45,600 68,900 Manufacturing overhead applied. Selling, general, and administrative expenses Sales revenue $ 41,300 1,800 63,900 36,000 24,900 237,600

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEB: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and...

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