Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing

Question

Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company

The following information is available for Deutsch Corporation for 2014:

Required:

1. Prepare the 2014 statement of cost of goods manufactured.

Deutsch Corporation

Statement of Cost of Goods Manufactured

For the Year Ended December 31, 2014

  

$  

Direct materials:

  

$  

  

  

  

$  

  

  

  

$  

  

  

Factory overhead:

  

$  

  

  

  

  

  

  

  

  

  

  

  

  

Total factory overhead

  

Total manufacturing costs incurred during the year

  

Total manufacturing costs

$  

  

  

Cost of goods manufactured

$  

2. Prepare the 2014 income statement.

Deutsch Corporation

Income Statement

For the Year Ended December 31, 2014

  

$  

Cost of good sold:

  

$  

  

  

  

$  

  

  

  

  

  

$  

Operating expenses:

Administrative expenses:

  

$  

  

  

  

  

$  

Selling expenses:

  

$  

  

  

  

Total operating expenses

  

  

$  

Inventories January 1 December 31 Materials $210,690 $257,040 Work in process 379,240 349,570 Finished goods 364,490 357,290

Explanation / Answer

Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing

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