Inventories Jan 2008 Dec 2008
Raw materials 8000 7000
Work in process 15000 13000
Finished Goods 16000 10000

Costs Incurred
Raw Materials purchased 93000
Direct Labor 42000
Factory rent 8000
factory utilities 7000
indirect materials 4000
indirect labor 6000
selling expense 5000
Administrative expense 12000

Show Steps + calculations
A. Prepare a cost of materials used schedule showing the amount of direct raw materials used in production during the year

B. Compute the amount of manufacturing overhead incurred during the year

C. Prepare a schedule of Cost of Goods manufactured for the year ended december 2008 in good form

D. Prepare the Cost of Goods sold section of the income statement for the year end 2008 in good form.

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