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Prepare the cost of goods sold section of a partial income

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Reference no: EM13896264

Adria Lopez, owner of Success Systems, decides to diversify her business by also manufacturing computer workstation furniture. 

Required: 

1. Classify the following manufacturing costs of Success Systems by behavior and traceability.

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2. Prepare a manufacturing statement for Success Systems for the month ended January 31, 2014. Assume the following manufacturing costs: 
Direct materials: ...... $ 2,200
Factory overhead: .... $ 490
Direct labor: ....... $ 900
Beginning goods in process: none (December 31, 2013) 
Ending goods in process: $ 540 (January 31, 2014) 
Beginning finished goods inventory: none (December 31, 2013) 
Ending finished goods inventory: $ 350 (January 31, 2014) 
3. Prepare the cost of goods sold section of a partial income statement for Success Systems for the month ended January 31,2014. 

Reference no: EM13896264

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