Exercise (1): The following information is taken from the books of Alfredo Company: Beginning of End
Exercise (1): The following information is taken from the books of Alfredo Company: Beginning of End of 2015 2015 Direct Material Inventory $ 22,000 $27,000 Work in process inventory 15,000 25,000 Finished goods inventory 17,000 24,000 Additional information: Sales Revenue 240,000 Purchases of direct materials 75,000 Direct manufacturing labor 30,000 Indirect manufacturing labor 16,000 Insurance, Factory 9,000 Depreciation building, equipment, Factory 11,000 Repairs and maintenance- Factory 4,000 Selling costs 12,000 General and administrative cost 24,000 Instructions: 1. Prepare a schedule for the cost of goods manufactured for 2015. 2. Determine the amount of prime cost and conversion cost. 3. Prepare the income statement for 2015. May 16 2022 03:09 PM
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