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3. Schedules of Cost of Goods Manufactured and Cost of Goods

Part A: Schedules of Cost of Goods Manufactured and Cost of Goods

Sold; Income Statement

Nish Corporation has provided the following data for the month of April:

Sales ............................................... $220,000

Raw materials purchases ............... $50,000

Direct labor cost ............................ $23,000

Manufacturing overhead cost ........ $59,000

Selling expense .............................. $18,000

Administrative expense ................. $43,000

Inventories: Beginning Ending

Raw materials ........ $26,000 $35,000

Work in process ..... $18,000 $22,000

Finished goods ....... $42,000 $29,000

Required:

1. Prepare a Schedule of Cost of Goods Manufactured in good form for April.
2. Prepare an Income Statement in good form for April.

Solutions :

PART A : SCHEDULE OF COST OF GOODS MAUFACTURED ( COST OF PRODUCTION) for the month of APRIL

PART A : SCHEDULE OF COST OF GOODS SOLD for the month of APRIL

PART C : INCOME STATEMNTS for the month of APRIL