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COMPLETE SOLUTION PLSSSSS (6) Listed below in alphabetical order are certain accounts of the...

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Accounting

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COMPLETE SOLUTION PLSSSSS

(6) Listed below in alphabetical order are certain accounts of the Olson Company with balances for the year ended December 31, 1998: Administrative expense $40,780 Customer returns and allowances 63,050 Depreciation---plant and 41,600 equipment Depreciation---selling 3,780 Direct labor cost 207,320 Dividends 13,000 Factory heat, light, and power 93,540 Factory supplies cost 26,500 Finished goods inventory, 1/1 78,650 Finished goods inventory, 12/31 82,130 Freight-in 9,840 Gain on disposal of machinery 13,600 Goods in process inventory, 1/1 30,970 Goods in process inventory, 12/31 31,920 Income tax expense 4,600 Indirect labor 26,150 Insurance and taxes (factory) 13,860 Interest expenses 10,950 Purchases 302,320 Raw materials inventory, 1/1 185,680 Raw materials inventory, 12/31 162,100 Sales 913,990 Selling expense 441,480 Prepare a detailed cost of goods manufactured and sold statement for the year ended December 31, 1998

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