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Raw materials inventory 22000 30000 work in process

Question - The following information is available for Collins Company. January 1, 2014 2014 December 31, 2014 Raw materials inventory $22,000 $30,000 Work in process inventory 20,300 17,200 Finished goods inventory 27,000 29,000 Materials purchased $170,000 Direct labor 200,000 Manufacturing overhead 183,000 Sales revenue 875,000

Instructions -

(a) Compute cost of goods manufactured?

(b) Make an income statement through gross profit?

(d) How would the income statement and balance sheet of a merchandising company be different from Laurel's financial statements?

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Accounting Basics: Raw materials inventory 22000 30000 work in process

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Accounting Basics: Raw materials inventory 22000 30000 work in process

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