Reference no: EM132571566
Question - Axteks Corporation has the following cost records for the year ended December 31, 2020:
Indirect factory labour $5,480
Direct materials used 250,300
Work in process (1/1/2020) 31,400
Work in process (12/31/2020) 26,300
Finished goods (1/1/2020) 35,900
Finished goods (12/31/2020) 29,100
Factory utilities 40,100
Depreciation, factory equipment 34,400
Direct labour 302,000
Indirect materials 23,000
Factory manager's salary 63,100
Selling and administrative expenses 341,300
Net sales 1,238,000
Factory machinery rent 42,200
Required -
1. Prepare cost of goods manufactured schedule for 2020.
2. Prepare income statement for 2020.
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: Axteks Corporation has the following cost records for the year ended December 31, 2020: Prepare cost of goods manufactured schedule for 2020
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