AC202 Gifford

AC202 Gifford - Interest expense 12,000 Factory utilities...

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Gifford Inc. Manufacturing Statement For the year ended Dec 31. Material Inventory Opening 5,000 Purchases 125,000 Material Inventory Closing (4,000) Material Consumed 126,000 Direct Labour 68,000 Manufacturing Overhead 107,500 Total Factory Cost 175,500 Add: WIP opening 3,500 Cost of good available to manufactured 179,000 Less: WIP ending 2,700 Cost of goods manufactured 181,700 Information for Gifford, Inc., as of December 31 follows: Administrative Salaries $35,000 Depreciation of factory equipment: 25,000 Depreciation of delivery vehicles 6,000  Direct Labor $68,000 Factory Supplies used 9,000 Finished goods inventory, January 1 57,000 Finished goods inventory, December 31 ??? Factory insurance 15,500 
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Unformatted text preview: Interest expense 12,000 Factory utilities 14.000 Factory maintenance 7,500 Raw materials inventory, January 1 5,000 Raw materials inventory, December 31 4,000 Raw material purchases 125,000 Rent on factory building 25,000 Repairs of factory equipment 11,500 Sales Commissions 37,500 Goods in process inventory, Jan 1 3,500 Goods in process inventory, Dec. 31 2,700 Prepare a manufacturing statement for the year ended December 31....
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