The following information is available for Lansing Closets for the fiscal year ending December 31,...
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Accounting
- The following information is available for Lansing Closets for the fiscal year ending December 31, 2017.
Beginning balance in Finished Goods $ 12,000
Ending balance in Finished Goods 10,200
Beginning balance in Work in Process 15,500
Ending balance in Work in Process 17,200
Selling expenses 102,000
General and administrative expenses 67,000
Direct material cost incurred 54,000
Direct labor cost 71,000
Manufacturing overhead applied 36,300
Sales 367,000
Prepare an income statement for fiscal 2017. Ignore income taxes.
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