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    Preparing a Manufacturing Statement

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    *Please look at the attachment!!!!
    *Please describe how to calculated!!

    Information for Gifford, Inc., as of December 31 follows: (see attachment)

    Prepare a manufacturing statement for the yea ended December 31.

    Administrative Salaries $35,000
    Depreciation of Factory Equipment $25,000
    Depreciation of Delivery vehicles $6,000
    Direct Labor $68,000
    Factory supplies Used $9,000
    Finished goods Inventory, January 1 $57,000
    Finished goods Inventory, December 31 $?
    Factory Insurance $15,500
    Interest Expense $12,000
    Factory Utilities $14,000
    Factory Maintenance $7,500
    Raw Materials Inventory, January 1 $5,000
    Raw Materials Inventory, December 31 $4,000
    Raw Material Purchases $125,000
    Rent on Factory Building $25,000
    Repairs of Factory Equipment $11,500
    Sales Commissions $37,500
    Goods in Process Inventory, January 1 $3,500
    Goods in Process Inventory, December 31 $2,700

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    Solution Preview

    Dear student,
    Solution is provided in a separate excel file attched.It contains following parts of Manufacturing statement.

    (A) Cost Of Raw Materials Used:

    (B) Direct Manufacturing Labor:

    (C )Manufacturing Overhead:

    (D) Cost of Goods Manufactured:

    (E) Explanatory Notes:
    Selling and Administrative expenses such as salaries , interest expense, sales commissin,Advertising,delivery expenses & Other ...

    Solution Summary

    This solution helps prepare a manufacturing statement.