Superior Manufacturing Company has the following cost and expense data for last year which ended December 31st.
Beginning Raw Materials $ 30000
Ending Raw Materials 20000
Raw Materials Purchases 205000
Indirect Materials 15000
Beginning Work-in-Progress 80000
Ending Work-in-Progress 50000
Beginning Finished Goods 110000
Ending Finished Goods 120000
Direct Labor 350000
Factory Insurance 14000
Property Taxes on Factory 6000
Sales Revenue 1500000
Delivery Expense 100000
Sales Office Salaries 150000
Indirect Labor 90000
Depreciation on Factory Equipment 40000
Utilities for Factory 65000
Depreciation on Factory Building 24000
Administrative Salaries 335000
In good order and form complete the following requirements.
1. Prepare a Cost of Goods Manufactured Schedule for Superior.
2. Prepare a Cost of Goods Sold Schedule for Superior
3. Prepare an Income Statement for Superior
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