Question

Yolo Windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars):
  

Information on January 1 (Beginning):
Direct materials inventory	$	82
Work-in-process inventory		115
Finished goods inventory		1,680
Information for the year:
Administrative costs	$	3,640
Direct labor		12,550
Direct materials purchases		8,290
Factory and machine depreciation		11,590
Factory supervision		761
Factory utilities		931
Indirect factory labor		2,940
Indirect materials and supplies		678
Marketing costs		1,490
Property taxes on factory		300
Sales revenue		45,800
Information on December 31 (Ending):
Direct materials inventory	$	92
Work-in-process inventory		147
Finished goods inventory		1,490

Required:

Prepare an income statement with a supporting cost of goods sold statement. (Enter your answers in thousands of dollars (i.e., 234,000 should be entered as 234).)

Answer 1

Put all the numbers given in question in cost of goods sold schedule and Income statement: Answer is as under:

All the amounts are in thousands of dollars.