fg - Student Name Class Problem 02-16 SWIFT COMPANY...

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Student Name: Class: Problem 02-16 SWIFT COMPANY Schedule of Cost of Goods Manufactured For the Month Ended August 31 Direct materials: Raw materials inventory, August 1 Add: Purchases of raw materials Raw materials available for use Deduct: Raw materials inventory, August 31 Raw materials used in production Direct labor Manufacturing overhead Total manufacturing costs Add: Work in process inventory, August 1 Deduct: Work in process inventory, August 31 Cost of goods manufactured SWIFT COMPANY Income Statement For the Month Ended August 31 Sales Cost of goods sold: Finished goods inventory, August 1 Add: Cost of goods manufactured Goods available for sale Deduct: Finished goods inventory, August 31 Gross margin Selling and administrative expenses Net operating income
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Given Data P02-16: SWIFT COMPANY Income Statement For the Month Ended August 31 Sales $450,000 Less operating expenses: Direct labor cost $70,000 Raw materials purchased 165,000 Manufacturing overhead 85,000
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This note was uploaded on 01/05/2012 for the course 101 melissa jo taught by Professor Acc101 during the Spring '11 term at Aarhus Universitet.

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fg - Student Name Class Problem 02-16 SWIFT COMPANY...

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