Yolo Windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars). Information on January 1 (Beginning): Direct materials inventory $ 83 Work-in-process inventory 111 Finished goods inventory 1,630 Information for the year: Administrative costs $ 3,360 Direct labor 12,450 Direct materials purchase 8,250 Factory and machine depreciation 11,530 Factory supervision 743 Factory utilities 959 Indirect factory labor 2,870 Indirect materials and supplies 673 Marketing costs 1,510 Property taxes on factory 294 Sales revenue 45,800 Information on December 31 (Ending): Direct materials inventory $ 91 Work-in-process inventory 129 Finished goods inventory 1,460 Required: 1 Prepare a cost of goods sold statement. 2 Prepare an income statement. Complete this question by entering your answers in the tabs below. (Tab) COGS Stmt (Tab) Income Stmt COGS Stmt Prepare a cost of goods sold statement. (Enter your answers in thousands of dollars (i.e., 234,000 should be entered as 234).)
Yolo Windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars).
Information on January 1 (Beginning):
Direct materials inventory $ 83
Work-in-process inventory 111
Finished goods inventory 1,630
Information for the year:
Administrative costs $ 3,360
Direct labor 12,450
Direct materials purchase 8,250
Factory and machine
Factory supervision 743
Factory utilities 959
Indirect factory labor 2,870
Indirect materials and supplies 673
Marketing costs 1,510
Property taxes on factory 294
Sales revenue 45,800
Information on December 31 (Ending):
Direct materials inventory $ 91
Work-in-process inventory 129
Finished goods inventory 1,460
Required:
1 Prepare a cost of goods sold statement.
2 Prepare an income statement.
Complete this question by entering your answers in the tabs below.
(Tab) COGS Stmt (Tab) Income Stmt
COGS Stmt
Prepare a cost of goods sold statement. (Enter your answers in thousands of dollars (i.e., 234,000 should be entered as 234).)
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