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  3. following information has been extracted from the

following information has been extracted from the records of Messini Ltd.: 3 ...

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Question

Accounting

following information has been extracted from the records of Messini Ltd.:
3
Finished goods, January 1,2010 Direct materials, January 1,2010
Finished goods, December 31,2010 Work in process, January 1,2010
$ 80,00060,000
24,000
20,000
Direct materials, December 31,2010
10.000
Work in process, December 31,2010
4,000
Marketing and customer services costs
80,000160,000
Direct materials purchased
Direct manufacturing labour Indirect manufacturing labour
80,00040,000
Sales Amortization-plant, property, and equipment
18,000
Sales salaries and commissions
Plant utilities Plant supplies
10,000
34,000
Instructions
1. Prepare a statement of cost of goods manufactured for the year.
2. Determine the cost of goods sold for the year.

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