Income Statement And Supporting Schedules The Following Information Is For Diablo In 880711
Income Statement and Supporting Schedules. The following information is for Diablo, Inc., for the year ended December 31, 2011.
Raw materials inventory beginning balance
Raw materials inventory ending balance
Work-in-process inventory beginning balance
Work-in-process inventory ending balance
Finished goods inventory beginning balance
Finished goods inventory ending balance
Raw material purchases
Direct labor used in production
General and administrative
Of the total raw materials placed in production for the year, $72,000 was for indirect materials.
a. Prepare a schedule of raw materials placed in production for the year ended December 31, 2011.
b. Prepare a schedule of cost of goods manufactured for the year ended December 31, 2011.
c. Prepare a schedule of cost of goods sold for the year ended December 31, 2011.
d. Prepare an income statement for the year ending December 31, 2011.
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