Statement of cost of goods manufactured and income statement for a manufacturing company The following information is available for Rosetta Company for 2010:
|
Inventories |
1 Jan |
31 Dec |
|
Materials |
$59,500 |
$73,500 |
|
Work in process |
84,000 |
73,500 |
|
Finished goods |
87,500 |
77,000 |
|
Advertising expense |
$52,500 |
|
Depreciation expense—office equipment |
17,500 |
|
Depreciation expense—factory equipment |
11,200 |
|
Direct labor |
143,500 |
|
Heat, light, and power—factory |
4,500 |
|
Indirect labor |
18,200 |
|
Materials purchased |
95,000 |
|
Office salaries expense |
59,500 |
|
Property taxes—factory |
3,150 |
|
Property taxes—headquarters building |
10,500 |
|
Rent expense—factory |
5,250 |
|
Sales |
665,000 |
|
Sales salaries expense |
105,000 |
|
Supplies—factory |
2,500 |
|
Miscellaneous cost—factory |
3,400 |
Instructions
1. Prepare the 2010 statement of cost of goods manufactured.
2. Prepare the 2010 income statement.