Schedule of cost of goods manufactured, income statement The following informati
ID: 2369308 • Letter: S
Question
Schedule of cost of goods manufactured, income statement
The following information was taken from the ledger of Jefferson Industries Inc.:
Direct labor
$ 85,000
Administrative expenses
$59,000
Selling expenses
34,000
Work in. process
Sales
300,000
Jan. 1
29,000
Finished goods
Dec. 31
21,000
Jan. 1
115,000
Direct material purchases
88,000
Dec. 31
131,000
Depreciation: factory
18,000
Raw (direct) materials
Indirect materials used
10,000
on hand
Indirect labor
24,000
Jan. 1
31,000
Factory taxes
8,000
Dec. 31
40,000
Factory utilities
11,000
Direct labor
$ 85,000
Administrative expenses
$59,000
Selling expenses
34,000
Work in. process
Sales
300,000
Jan. 1
29,000
Finished goods
Dec. 31
21,000
Jan. 1
115,000
Direct material purchases
88,000
Dec. 31
131,000
Depreciation: factory
18,000
Raw (direct) materials
Indirect materials used
10,000
on hand
Indirect labor
24,000
Jan. 1
31,000
Factory taxes
8,000
Dec. 31
40,000
Factory utilities
11,000
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