Alexandria Aluminum Company, a manufacturer of recyclable soda
Cans, had the following inventory balances at the beginning and end
Work in process
During 2005, the company purchased $ 250,000of raw material and spent
$400,000 on direct labor.
Manufacturing overhead costs were as follow:
Depreciation on plant and equipment
Sales revenue was $ 1,105,000 for the year. Selling and administrative expenses
For the year amounted to $ 110,000. The firm’s tax rate is 40%.
1- Prepare a schedule of cost goods manufactured.
2- Prepare a schedule of cost of goods sold.
3- Prepare an income statement.
The following data refer to San Fernando Fashion Company for
the year 2005: