3 Information for York Plastics as of December 31 follows. Prepare (a) the...
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3 Information for York Plastics as of December 31 follows. Prepare (a) the company's manufacturing statement for the year ended December 31; (b) prepare the company's income statement that reports separate categories for selling and general and administrative expenses. Administrative salaries expense $ 135,000 Depreciation expense - Factory equipment 52,400 36,200 Depreciation expense - Delivery vehicles 24,800 Depreciation expense - Office equipment 22,350 Advertising expense 268,000 Direct labor 12,000 Factory supplies used 91,500 Income taxes expense 35,000 Indirect labor Indirect material 24,000 Factory insurance 15,500 Factory utilities 14,000 Factory maintenance 7,500 Inventories Raw materials inventory, January 1 32,000 28,000 Raw materials inventory, December 31 33,780 Goods in process inventory, January 1 37,460 Goods in process inventory, December 31 56,970 Finished goods inventory, January 1 62,000 Finished goods inventory, December 31 325,000 Raw materials purchases 50,000 Rent expense - Factory 24,000 Rent expense - Office space 24,000 Rent expense - Selling Space 97,500 Sales salaries expense 1,452,000 Sales 29,000 Sales discounts
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