The following information pertains to the most recent quarter at Builders Production Limited. Purchases of...
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Accounting
The following information pertains to the most recent quarter at Builders Production Limited.
Purchases of raw materials 384,000
Raw materials inventory, beginning 46,400
Raw materials inventory, ending 76,000
Depreciation, factory 208,000
Insurance, factory 21,600
Direct labour 251,200
Maintenance, factory 126,400
Administrative expenses 292,800
Sales 2,184,000
Utilities, factory 116,000
Supplies, factory 4,160
Selling expenses 334,400
Indirect labour 271,200
Work in process inventory, beginning 28,800
Work in process inventory, ending 123,200
Finished goods inventory, beginning42,400
Finished goods inventory, ending 169,600
Requirement 1:
1. Prepare a schedule of cost of goods manufactured.
Requirement 2:
2. Prepare an income statement.
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