An asterisk (*) will appear to the right of an incorrect entry.
1.
Sales
Gross profit
Selling expenses:
Total selling expenses
Income from operations
Cost of goods sold supporting calculation:
Manufacturing cost per unit:
Direct materials:
Leather
Velvet (for interior)
Packaging
Total direct materials
Direct labor
Factory overhead
Total manufacturing cost per unit
x Number of units sold
Cost of goods sold
2.
Finished goods inventory balance, December 31, 2014:
Units produced
Less: Units sold
Units remaining in inventory
x Manufacturing cost per unit
Balance
Work in process inventory balance, December 31, 2014:
Additional units waiting for assembly
x Direct materials and overhead per unit
Balance
0%
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TECHNOLOGY ACCESSORIES INC.
Income Statement
For the Year Ended December 31, 2014
Name:
Section:
An asterisk (*) will appear to the right of an incorrect entry.
1.
Sales 18,400,000$
2.
Finished goods inventory balance, December 31, 2014:
Units produced 500,000
Income Statement
For the Year Ended December 31, 2014
ON
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Solution
Section:
TECHNOLOGY ACCESSORIES INC.