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Posted: August 18th, 2023
Prepare an income statement and a supporting schedule of the cost of goods
(Figures in million)For Specific Date -PGKDirect Material, Jan 1, 2004 - $15Work in progress Jan 1, 2004 - $10Finished goods, Jan 1, 2004 - $70Direct Materials, Dec 31, 2004 - $20Work in progress, Dec 31, 2004 - $5Finished goods, Dec 31, 2004 - $55For Specific Dates PGKPurchase of direct materials - $325Direct Manufacturing Labor - $100Depreciation -plant, building -$ 80Plant supervisory salaries - $5Miscellaneous plant overhead - $35Revenues - $950Marketing, distribution, & customer service costs - $240Plant supplies used - $10Plant utilities - $30Indirect manufacturing labor - $60Question: Prepare an income statement and a supporting schedule of the cost of goods manufactures for the year ended 31, 2004.
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