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Prepare statements for a manufacturing company

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Reference no: EM13553371

Prepare Statements for a Manufacturing Company

Pioneer Parts, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars):

Information on January 1 (Beginning):

 

Direct materials inventory

$ 18

Work-in-process inventory

24

Finished goods inventory

328

Information for the year:

 

Administrative costs

$ 720

Direct labor

2,120

Direct materials purchases

1,640

Factory and machine depreciation

2,320

Factory supervision

420

Factory utilities

180

Indirect factory labor

560

Indirect materials and supplies

140

Marketing costs

300

Property taxes on factory

56

Sales revenue

9,080

Information on January 31 (Ending):

 

Direct materials inventory

$ 16

Work-in-process inventory

28

Finished goods inventory

294

Required

Prepare an income statement with a supporting cost of goods sold statement.

Reference no: EM13553371

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