Imperial Shoe Company, a manufacturing firm, has supplied the following information from its accounting records...
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Accounting
Imperial Shoe Company, a manufacturing firm, has supplied the following information from its accounting records for the month of November 2021:
Factory supplies used $18,000
Depreciation of factory equipment 17,000
Depreciation of office building 23,000
Salary of factory manager 36,000
Factory janitorial cost 5,000
Marketing and promotion costs 4,500
Other materials used 1,250
Direct labor cost (5,000 hours used) 22,000
Purchase of raw materials 10,000
Finished goods inventory Nov. 1 2,250
Work in process inventory Nov. 1 4,200
Raw materials inventory Nov. 1 3,500
Finished goods inventory Nov. 30 3,750
Work in process inventory Nov. 30 2,750
Raw materials inventory Nov. 30 5,100
. Required: A. Prepare a statement of cost of goods manufactured. B. Prepare a statement of cost of goods sold.
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