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Chambers company produces blankets from its accounting

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Reference no: EM13578315

Chambers Company produces blankets. From its accounting records, it prepares the following schedule and financial statements on a yearly basis.

(a)
Cost of goods manufactured schedule.
(b)
Income statement.
(c)
Balance sheet.

The following items are found in its ledger and accompanying data.

For each item, indicate the schedule and/or financial statement(s) in which the item will appear.

1.
Direct labor
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2.
Raw materials inventory, 1/1
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3.
Work in process inventory, 12/31
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4.
Finished goods inventory, 1/1
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5.
Indirect labor
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6.
Depreciation on factory machinery
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7.
Work in process, 1/1
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8.
Finished goods inventory, 12/31

9.
Factory maintenance salaries
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10.
Cost of goods manufactured
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11.
Depreciation on delivery equipment
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12.
Cost of goods available for sale
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13.
Direct materials used
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14.
Heat and electricity for factory
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15.
Repairs to roof of factory building
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16.
Cost of raw materials purchases

Reference no: EM13578315

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