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Schedule of Cost of Goods Manufactured

The following data (in thousands of dollars) have been taken from accounting records of Larkin Corporation for the just completed year.

Sales................................................820.00
Purchase of raw materials........................180.00
Direct labor..........................................130.00
Manufacturing overhead............................200.00
Administrative expenses............................180.00
Selling expenses......................................140.00
Raw material inventory, beginning.................60.00
Raw material inventory, ending.....................20.00
Work in process inventory, beginning...............50.00
Work in process inventory, ending...................20.00
Finished goods inventory, beginning.................110.00
Finished goods inventory, ending.....................150.00

A. Prepare a Schedule of Cost of Goods Manufactured in good form
B. Compute the Cost of Goods Sold
C. Using data from your answers above as needed, prepare an Income Statement in good form.

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Solution Summary

Word file contains, Schedule of Cost of Goods Manufactured ,cost of goods sold and income statement.

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