Consider the following information for Fair Wind Yachts Inc., a manufacturer of sailboat rigging, blocks,...
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Accounting
Consider the following information for Fair Wind Yachts Inc., a manufacturer of sailboat rigging, blocks, and cordage.
Advertising expenses$152,000Depreciation expenseadministrative office75,800Depreciation expenseplant and equipment322,000Depreciation expensedelivery trucks46,400Materials inventory, beginning18,000Materials inventory, ending21,000Direct materials purchases420,000Direct labor520,000Indirect labor273,000Finished goods inventory, beginning55,400Finished goods inventory, ending43,800Insurance on plant33,200Heat and light for plant22,800Repairs on plant building37,000Supervisor's salaryplant98,600Suppliesplant132,400Suppliesadministrative office78,600Work-in-process inventory, beginning32,000Work-in-process inventory, ending39,800Sales representatives' salaries326,000Sales revenue2,927,000.
-prepare a statement of cost of goods manufactured and an income statement for Fair Wind Yachts for the year ended December 31.
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