BALKWELL COMPANY

COST OF GOODS SOLD STATEMENT

For the Year Ended December 31, 19 B
Direct Material:
Raw material inventory, December 31, 19A
Add: Purchases of raw material
Transportation in
Raw material available for use
Deduct: raw material inventory, December 31, B
Raw material used

176,000
2,400,000
32,000
2,608,000
196,000
2,412,000

Direct Labor

3,204,000

Manufacturing overhead:
Total Manufacturing Cost
Add: Work in process inventory, January 1
Subtotal
Deduct: Work in process inventory, December 31
Cost of goods manufactured
Finished goods inventory, January 1

1,885,600
7,501,600
129,800
7,631,400
136,800
7,494,600
620,000

Cost of goods available for sale

Deduct: Finished goods inventory, December 31
Cost of goods sold

8,114,600
467,400
7,647,200

COMET COMPUTER CORPORATION

Incomme Statement
For the Year Ended December 31, 2010
Sale revenue
Less: Cost of goods sold

700,000
7,647,200

Gross Margin
Sellinng and administrative expenses
Incomme before taxes
Inome tax expense
Net Income

(6,947,200)
174,490
(7,121,690)
30,000
#########

RUTHVEN company
COST OF GOODS SOLD STATEMENT

Direct Material:
Raw material inventory, December 31, 19A
8,000
Add: Purchases of raw material
36,000
Transportation in
Raw material available for use
44,000
Deduct: raw material inventory, December 31, B 8,500
Raw material used

35,500

Direct Labor

15,000

Manufacturing overhead:
Total Manufacturing Cost
Add: Work in process inventory, January 1
Subtotal
Deduct: Work in process inventory, December 31
Cost of goods manufactured
Finished goods inventory, January 1

10,000
60,500
8,000
68,500
15,000
53,500
7,000

Cost of goods available for sale

Deduct: Finished goods inventory, December 31
Cost of goods sold

60,500
10,200
50,300

INCOME STATEMENT
Sales
Cost ofs ales
Gross profit

72000
50,300
21,700

Marketing expenses
Adminstartive expenses
Other expenses

3600
720
360
4680
17,020

Net profit

Cost of goods manufactured

Finished goods inventory, January 1

1,900,000
300,000

Cost of goods available for sale

Deduct: Finished goods inventory, December 31
Cost of goods sold

2,200,000
600,000
1,600,000

Sales
Gross profit
cost of sales

2,000,000
400000
1,600,000

Pioneer (pvt ) Limited

Statement of the retained earning
For The yer ended December 31,2013

Retained earning January 1,2013

Add: Profit for the year

Less: cash dividend

Less: stock dividend

Retained earning December 31,2013

50,000
25,000

Rupees

100,000
150,000
250,000

75,000

175,000