The following account balances and other information are from SUNN Corporation’s accounting records for year end December 31, 2011. Use this information to prepare (1) a table listing factory overhead costs, (2) a manufacturing statement (show only the total factory overhead cost), and (3) an income statement.
|
Advertising expense |
$85,000 |
Goods in process inventory, Dec 31, 2010 |
$8,000 |
|
Amortization expense — Factory Patents |
16,000 |
Goods in process inventory, Dec 31, 2011 |
9,000 |
|
Bad debts expense |
28,000 |
Income taxes |
53,400 |
|
Depreciation expense — Office equipment |
37,000 |
Indirect labor |
26,000 |
|
Depreciation expense — Factory building |
133,000 |
Interest expense |
25,000 |
|
Depreciation expense — Factory equipment |
78,000 |
Miscellaneous expense |
55,000 |
|
Direct labor |
250,000 |
Property taxes on factory equipment |
14,000 |
|
Factory insurance expired |
62,000 |
Raw materials inventory, Dec 31, 2010 |
60,000 |
|
Factory supervision |
74,000 |
Raw materials inventory, Dec 31, 2011 |
78,000 |
|
Factory supplies used |
21,000 |
Raw materials purchases |
313,000 |
|
Factory utilities |
115,000 |
Repairs expense — Factory equipment |
31,000 |
|
Finished goods inventory, Dec 31, 2010 |
15,000 |
Salaries expense |
150,000 |
|
Finished goods inventory, Dec 31, 2011 |
12,500 |
Sales |
1,630,000 |