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Income Statement, Cost of Goods Manufactured Jordan Comparry produxed 150,000 floor lamps during the...

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Accounting

Income Statement, Cost of Goods Manufactured
Jordan Comparry produxed 150,000 floor lamps during the past calcadar year. Joctan had
2,500 Acor lamps in fixished goods inventory at the beginning of the year. Ar the end of
che year, there were 11,500 Aloor lamps in finished goods inventory. The lamps sell for $50
each. Jocdan's accouating records provide the following information for the past year:
Purchases of direct materials
Direct materials inventory, Jamary 1
Direct materials inventory, December 31
Direct labor
Indirect laboe
Depreciation, factory bualfing
Depreciation, factory equipment
Property taxes on the factory
Utilities, factory
Insurance on the factory
Research and development
Salary, sales sapervisor
Commissions, salespersons
Gencral administration
Work in process inventory, Jantary 1
Work in process inventory, December 31
Finished goods inveatory, January 1
Finished goods inventoey, Desember 31
Required:
Prepare a cost of goots manufacrured statemnt.
Compute the cone of producing one Bocr lamp last ycar.
Prepare an incoene statement on an abociption-sosting basis.
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