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In: Accounting

The following information is available for Robstown Corporation for 20Y8: Inventories January 1 December 31 Materials...

The following information is available for Robstown Corporation for 20Y8:

Inventories

January 1

December 31
Materials $44,250 $31,700
Work in process 63,900 80,000
Finished goods 101,200 99,800

December 31
Advertising expense $ 400,000
Depreciation expense-office equipment 30,000
Depreciation expense-factory equipment 80,000
Direct labor 1,100,000
Heat, light, and power-factory 53,300
Indirect labor 115,000
Materials purchased 556,600
Office salaries expense 318,000
Property taxes-factory 40,000
Property taxes-office building 25,000
Rent expense-factory 27,000
Sales 3,850,000
Sales salaries expense 200,000
Supplies-factory 9,500
Miscellaneous costs-factory 11,400

Prepare the 20Y8 income statement. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Enter all amounts as positive numbers.

Robstown Corporation

Income Statement

For the Year Ended December 31, 20Y8

1

✔

✔

2

Cost of goods sold:

3

✔

4

✔

5

✔

6

✔

7

8

9

Operating expenses:

10

Administrative expenses:

11

✔

12

13

14

Selling expenses:

15

✔

16

✔

17

✔

18

✔

Solutions

Expert Solution


ekkarill92 answered 2 years ago
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