Reference no: EM132472239
The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed:
Costs incurred:
Direct labour cost $76,000
Purchases of raw materials 126,000
Indirect labour 33,000
Maintenance, factory equipment 6,600
Advertising expense 96,000
Insurance, factory equipment 960
Sales salaries 56,000
Rent, factory facilities 27,000
Supplies 5,200
Depreciation, office equipment 4,100
Depreciation, factory equipment 24,000
Beginning of the Year & End of the Year Inventories:
Raw materials $8,600 $17,100
Work in process 10,900 5,750
Finished goods 23,850 38,700
Required:
Question 1. schedule of cost of goods manufactured in good form.
Question 2. cost of goods sold section of Mason Company's income statement for the year.
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