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(b) Prepare an income statement through gross profit.
(c) Show the presentation of the ending inventories on the December
31, 2014 balance
(d) How would the income statement and balance sheet of a
merchandising company
Be different from Laurel’s financial statements?
E1-10B
Instructions
(a) Prepare the cost of goods manufactured schedule for the month
ended June 30, 2014.
E1-11B
(a) Determine the cost of the head lamps that would appear in each of
the following accounts at September 30, 2014. Raw Materials, Work
in Process, Finished Goods, Cost of Goods Sold and Selling
Expenses.
Note: purchase of 5,200 head lamps at a cost of $8 per lamp. The
company withdrew 4,650 lamps during the month. Now 100 of the
lamps were used to replace the head lamps. The remaining 4,550
lamps were put in autos manufactures during the month. 90% were
completed and transferred and then 75% were sold 09/30.
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AC 330 Unit 3 Team Assignment Cost Volume
Profit Analysis
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