Kaplan University Operations And Supply Chain Management Assignment Help - the accounting recor
Question - The following data from the just completed year are taken from the accounting records of Eccles Company: Sales $ 643,000 Direct labor cost $ 90,000 Raw material purchases $ 132,000 Selling expenses $ 100,000 Administrative expenses $ 43,000 Manufacturing overhead applied to work in process $ 210,000 Actual manufacturing overhead costs $ 220,000 Inventories: Beginning of Year End of Year Raw materials $ 8,000 $ 10,000 W ork in process $ 5,000 $ 20,000 Finished goods $ 70,000 $ 25,000 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. (Input all amounts as positive values.) 2. Prepare a schedule of cost of goods sold. 3. Prepare an income statement.
Solution Preview - No Solution Preview Available