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In: Accounting

The administrative offices and manufacturing plant of Billings Tool & Die share the same building. The...

The administrative offices and manufacturing plant of Billings Tool & Die share the same building. The following information (in $000s) appears in the accounting records for last year:
  

Administrative costs $ 1,659
Building and machine depreciation (75% of this amount is for factory) 1,000
Building utilities (90% of this amount is for factory) 1,220
Direct labor 845
Direct materials inventory, December 31 13
Direct materials inventory, January 1 14
Direct materials purchases 3,660
Factory supervision 489
Finished goods inventory, December 31 68
Finished goods inventory, January 1 53
Indirect factory labor 905
Indirect materials and supplies 677
Marketing costs 877
Property taxes on building (85% of this amount is for factory) 800
Sales revenue 12,979
Work-in-process inventory, December 31 27
Work-in-process inventory, January 1 32

Required:

Prepare an 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).)

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ekkarill92 answered 1 year ago
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