Corbin Manufacturing Company produces blankets. From its accounting records it prepares the following schedule and financial statements on a yearly basis.
(a) Cost of goods manufactured schedule.
(b) Income statement.
(c) Balance sheet.
The following items are found in its ledger and accompanying data.
|
1. Direct labor |
9. Factory maintenance salaries |
|
2. Raw materials inventory, 1/1 |
10. Cost of goods manufactured |
|
3. Work in process inventory, 12/31 |
11. Depreciation on delivery equipment |
|
4. Finished goods inventory, 1/1 |
12. Cost of goods available for sale |
|
5. Indirect labor |
13. Direct materials used |
|
6. Depreciation on factory machinery |
14. Heat and electricity for factory |
|
7. Work in process, 1/1 |
15. Repairs to roof of factory building |
|
8. Finished goods inventory, 12/31 |
16. Cost of raw materials purchases |
Instructions
List the items (1)–(16). For each item, indicate by using the appropriate letter or letters, the schedule and/or financial statement(s) in which the item will appear.