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Part 2 The following information is available for Sassafras Corporation: balance Jan. 1,2023...

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Accounting

Part 2
The following information is available for Sassafras Corporation:
balance
Jan. 1,2023 during 2023
balance
Dec. 31,2023
Raw materials inventory ........................... $ 21,000 $ 30,000
Work in process inventory ........................ $ 13,500 $ 17,200
Finished goods inventory .......................... $ 27,000 $ 21,000
Administrative salaries and benefits ......... $ 132,000
Materials purchased.................................. $ 150,000
Direct labour.............................................. $ 220,000
Manufacturing overhead........................... $ 180,000
Sales........................................................... $ 910,000
Other selling costs ..................................... $ 23,000
Requirements:
1. Prepare a schedule of the cost of goods manufactured for 2023.
2. Prepare a schedule of cost of goods sold for 2023.
3. Prepare an income statement for 2023.
AFM 123/ ARBUS 102 Accounting Information for Managers page 3 of 3

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