ACCT 320- HW Week 2

ACCT 320- HW Week 2 - 11,000___ Cost of Goods Manufactured...

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Yuriy Rodin ACCT 320 Homework #2 Chapter 3 Handout Assignment Carson Companies Statement of Cost of Goods Manufactured For the Year Ended December 31, 2011 Direct Materials Beginning Inventory $ 22,000 Purchases 384,000_ Direct Materials Available 406,000 Less: Ending Direct Materials Inventory 16,000__ Direct Materials Used $ 390,000 Direct Labor 455,000 Factory Overhead 329,000__ Total Manufacturing Cost 1,174,000 Additional Beginning Work-In-Process Inventory 14,000___ Total Manufacturing Cost to Account for 1,188,000 Less: Ending Work-In-Process Inventory
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Unformatted text preview: 11,000___ Cost of Goods Manufactured $ 1,177,000 Carson Companies Income Statement For the Year Ended December 31, 2011 Sales $ 2,312,000 Cost of Goods Sold Beginning Finished Goods Inventory $ 66,000 Cost of Goods Manufactured 1,177,000 Cost of Goods Available for Sale 1,243,000 Less: Ending Finished Goods Inventory 42,000__ 1,201,000 Gross Margin 1,111,000 Selling and Administrative expenses 336,000_ Operating Income $ 775,000...
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