Cost of Goods Manufactured
The following data pertain to Winstead Company for the year ended December 31, 2010:
| December 31, 2009 | December 31, 2010 |
Purchases of direct materials |
| $120,000 |
Direct labor |
| 85,000 |
Indirect labor |
| 25,000 |
Factory insurance |
| 12,000 |
Depreciation—Factory |
| 65,000 |
Repairs and maintenance—Factory |
| 15,000 |
Marketing expenses |
| 110,000 |
General and administrative expenses |
| 55,000 |
Direct materials inventory | $25,000 | 35,000 |
Work-in-process inventory | 33,000 | 42,000 |
Finished goods inventory | 18,000 | 20,000 |
Sales in 2010 were $650,000.
Required Prepare a schedule of cost of goods manufactured and an income statement for 2010 for Winstead Company similar to those in Exhibit 3.15a.
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