Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 2 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 19 Aug 2017 My Price 11.00

NewQuest Corporation

Statement of cost of goods manufactured and income statement for a
manufacturing company

 

Inventories

January 1

December 31

Materials

$351,000

$436,800

Work in process

631,800

592,800

Finished goods

608,400

576,000

 
 

The following information is available for The NewQuest Corporation for 2016:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advertising expense

$   296,400

Depreciation expense—office equipment

42,120

Depreciation expense—factory equipment

56,160

Direct labor

670,800

Heat, light, and power—factory

22,460

Indirect labor

78,750

Materials purchased

659,800

Office salaries expense

185,000

Property taxes—factory

18,500

Property taxes—office building

32,400

Rent expense—factory

32,000

Sales

3,010,000

Sales salaries expense

420,000

Supplies—factory

15,400

Miscellaneous costs—factory

9,500

 
 

Instructions

1.    Prepare the 2016 statement of cost of goods manufactured.

 

2.    Prepare the 2016 income statement.

Answers

Maurice Tutor
(5)
Status NEW Posted 19 Aug 2017 11:08 PM My Price 11.00

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