01: The ABc Company specializes in producing a set of wooden chairs. The chairs enjoys...
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01: The ABc Company specializes in producing a set of wooden chairs. The chairs enjoys great popularity, and the company has ample arders to keep production going at its full capacity of 2,000 chairs per year Annual cost data at full capacity follow Factory labor, direct Fited GttAdvertising $50,000 Property taxes, factory building Sales $5,000 10, Lease cost factory equipment $5,000 $5,000 S5.000 $50,000 $100,000 $25,000 factory building Administrativeoffice supplies (billing) Administrative office salaries Purchases of raw materials Ve Sales Raw Material Beginning Raw Material End WIP Beginning WIP End Finished Goods Beginning Finished Goods End $55,000 $o $0 $25,000 $25,000 $15,000 a. Find the cost of manufactured b. Prepare the Income Statement
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