Chambers 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
2.Raw materials inventory, 1/1
3.Work in process inventory, 12/31
4.Finished goods inventory, 1/1
5.Indirect labor
6.Depreciation on factory machinery
7.Work in process, 1/1
8.Finished goods inventory, 12/31
9.Factory maintenance salaries
- Cost of goods manufactured
- Depreciation on delivery equipment
- Cost of goods available for sale
- Direct materials used
- Heat and electricity for factory
- Repairs to roof of factory building
- 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.