Solved: The following data are taken from the general

ledger and
The following data are taken from the general ledger and

The following data are taken from the general ledger and other records of Phoenix Products Co.
on October 31, the end of the first month of operations in the current fiscal year:

Sales.......................................................................................$90,000

Materials inventory (October 1)............................................ 22,000

Work in process inventory (October 1)................................. 20,000

Finished goods inventory (October 1)................................... 30,000

Materials purchased............................................................... 18,000

Direct labor cost.................................................................... 21,000

Factory overhead (including $1,000 of indirect materials

used and $4,000 of indirect labor cost).................................. 16,000

Selling and administrative expenses...................................... 15,000

Inventories at October 31:

Materials............................................................................... 25,000

Work in process.................................................................... 24,000

Finished goods..................................................................... 32,000

a. Prepare a statement of cost of goods manufactured.

b. Prepare the cost of goods sold section of the income statement.

The following data are taken from the general ledger and

Reach out to freelance2040@yahoo.com for enquiry.

 ANSWER
https://solvedquest.com/the-following-data-are-taken-from-the-general-ledger-and/

Reach out to freelance2040@yahoo.com for enquiry.

Powered by TCPDF (www.tcpdf.org)