Managerial Accounting

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:

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