The following information is taken from December 31, 2015, adjusted Trial Balance and other records fof PAPO'S Company before the calender year-end closing entries are record:

 

Direct Labor ………………………………………………………………$803,250          

Income taxes expenses ……………………………………………222,000          

Indirect labor ……………………………………………………………65,070          

Depreciation expense - Factory equipment …………….42,420          

Miscellaneous Factory Overhead …………………………..6,125          

Office salaries expenses ……………………………………………53,000          

Raw material purchases ……………………………………………875,000          

Rent expense - office space ……………………………………..18,000          

Rent expense - Selling expense ………………………………33,800          

Raw materials, January 1, 2015 …………………………………122,350          

Raw material, December 31, 2015 ……………………………242,000          

Maintenance Factory Overhead ………………………………34,500          

Goods in process, January 1, 2015 …………………………….18,300          

Sales ………………………………………………………………………….3,879,000          

Goods in process, December 31, 2015 ……………………..17,080          

Finished goods, January 1, 2015 ……………………………….142,500          

Sales salary expense …………………………………………………282,160          

Finished goods, December 31, 2015 …………………………166,000    

 

Required: 

1 Prepared the 2015 cost of goods manufacturing statement for the company.

2 Prepared the 2015 Income statement for the company.

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Status NEW Posted 20 Jun 2017 03:06 AM My Price 7.00

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