Cost of Goods Manufactured, Income Statement Consider the following information for Household Furnishings, Inc. for the year ended December 31, 2010:
Depreciation expense—Administrative office | $ 33,000 |
Depreciation expense—Plant and equipment | 88,000 |
Direct labor—Wages | 487,000 |
Direct materials inventory, Dec. 31, 2010 | 25,000 |
Direct materials inventory, Jan. 1, 2010 | 18,000 |
Direct materials purchases | 155,000 |
Finished goods inventory, Dec. 31, 2010 | 38,000 |
Finished goods inventory, Jan. 1, 2010 | 15,000 |
Heat, light,&power—Plant | 44,000 |
Indirect labor | 25,000 |
Property taxes—Plant | 34,000 |
Sales representatives’ salaries | 145,000 |
Sales revenue | 1,500,000 |
Factory supervisor’s salary | 66,000 |
Supplies—Administrative office | 16,000 |
Supplies—Plant | 29,000 |
Work-in-Process inventory, Dec. 31, 2010 | 9,000 |
Work-in-Process inventory, Jan. 1, 2010 | 23,000 |
Required Prepare a statement of cost of goods manufactured and an income statement for Household Furnishings for the year ended December 31, 2010, similar to the one in Exhibit 3.15A.
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