In: Accounting
Mesa Designs produces a variety of hardware products, primarily for the do-it-yourself (DIY) market. As part of your job interview as a summer intern at Mesa, the cost accountant provides you with the following (fictitious) data for the year (in $000):
Inventory information: | 1/1/00 | 12/31/00 | ||
Direct materials | $ | 52 | $ | 59 |
Work-in-process | 80 | 72 | ||
Finished goods | 991 | 1,017 | ||
Other information: | For the year ’00 | |
Administrative costs | $ | 2,500 |
Depreciation (Factory) | 2,980 | |
Depreciation (Machines) | 4,660 | |
Direct labor | 6,900 | |
Direct materials purchased | 5,190 | |
Indirect labor (Factory) | 1,710 | |
Indirect materials (Factory) | 520 | |
Property taxes (Factory) | 205 | |
Selling costs | 1,110 | |
Sales revenue | 32,110 | |
Utilities (Factory) | 570 | |
Required:
Prepare the income statement with a supporting cost of goods sold statement. (Enter your answers in thousands of dollars (i.e., 234,000 should be entered as 234).)