| Module 10 Assignment: | ||||||||||||||
| The following information was available for Hamilton Industries for the year 20XX: | ||||||||||||||
| Inventories | 1-Jan | 31-Dec | ||||||||||||
| Materials | $85,000 | $105,000 | ||||||||||||
| Work in process | 120,000 | 105,000 | ||||||||||||
| Finished goods | 125,000 | 110,000 | ||||||||||||
| Advertising expense | $75,000 | |||||||||||||
| Depreciation expense-office equipment | 25,000 | |||||||||||||
| Depreciation expense-factory equipment | 16,000 | |||||||||||||
| Direct Labor | 205,000 | |||||||||||||
| Heat, light, and power-factory | 6,500 | |||||||||||||
| Indirect labor | 26,000 | |||||||||||||
| Materials purchased | 135,000 | |||||||||||||
| Office salaries expense | 85,000 | |||||||||||||
| Property taxes-factory | 4,500 | |||||||||||||
| Property taxes-headquarters | 15,000 | |||||||||||||
| Rent expense-factory | 7,500 | |||||||||||||
| Sales | 950,000 | |||||||||||||
| Sales salaries expense | 150,000 | |||||||||||||
| Supplies-factory | 3,500 | |||||||||||||
| Miscellaneous cost-factory | 4,500 | |||||||||||||
| Requirements: | ||||||||||||||
| 1 | Prepare the 20XX statement of cost of goods manufactured. | |||||||||||||
| Hamilton Industries | ||||||||||||||
| Statement of Cost of Goods Manufactured | ||||||||||||||
| For the Year ended December 31, 20XX | ||||||||||||||
| 2 | Prepare the 20XX income statement. | |||||||||||||
| Hamilton Industries | ||||||||||||||
| Income Statement | ||||||||||||||
| For the Year ended December 31, 20XX | ||||||||||||||
Attachments:
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