5. Prepare a Cost of Goods manufactured, Cost of Goods Sold and Manufacturing Income Statement...
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5. Prepare a Cost of Goods manufactured, Cost of Goods Sold and Manufacturing Income Statement For July, for Fiona's flip flops based on the following information: Beginning finished goods inventory: $200,000 Factory maintenance: $20,000. Direct labor: $600,000. Factory utilities: $20,000. Beginning raw materials inventory; $100,000. Ending work in process inventory: $300,000 Sales: $6,000,000 Indirect material: $40,000 Selling, general and administrative expenses: $1,000,000 Raw materials purchases: $500,000. Factory depreciation: $40,000. Ending Raw materials inventory: $200,000 Indirect labor: $10,000. Beginning work in process inventory: $300,000 Ending finished goods inventory: $100,000
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