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Make an Income Statement for the month ended January

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Reference no: EM133000942

Problem - During the month of January 2021, Zena Company had the following information.

Materials inventory, January 1 6,000

Materials inventory, January 31 8,000

Finished goods inventory, January 1 21,000

Finished goods inventory, January 31 25,000

Work in process, January 1 22,000

Work in process, January 31 18,500

Factory overhead 37,000

Sales 257,000

Purchases 92,000

Direct labor 25,000

Sales and administrative expenses 79,000

Required -

A. Produce a Manufacturing Account.

B. Make an Income Statement for the month ended January 31, 2021.

C. Make the inventory section of the balance sheet.

Reference no: EM133000942

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