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Ahsan and Jawad PFM Assignment No1
Ahsan and Jawad PFM Assignment No1
Waterways Corporation
Cost of Good Manufacturing Schedule
For the Month Ended November 30, 2012
Direct materials
Manufacturing Overhead
• Income Statement
Waterways Corporation
INCOME STATEMENT
FOR THE MONTH ENDED November , 30
1,350
Sales ,000
Sales
Com
missi (40,5
ons 00)
1,309
,500
Total
Cost
of
Good
s
Manu
factur 365,8
ed 00
Finis
hed
good
s
inven
tory,
Octo
ber 72,55
31 0
Finis (68,8
hed
good
s
inven
tory,
Nove
mber
30 00)
Total
of
finish
good
s 3,750
Cost
of
Good
s 365,8
Sold 00
Gros
s
Profit
Adve
rtisin
g&
Prom 54,00
otion 0
Depr
eciati
on -
Offic
e
equip
ment 2,400
Offic
e
Suppl
ies
Expe
nse 1,600
Other
admi
n
expe
nse 7,200
Salaries 325,000
Oper
ating
cost
Net
Profi
t
• Current Asset Balance Sheet
Waterways Corporation
Balance Sheet
November 30, 2012
Current assets
Cash $ 260,000
Inventories