The Sebeka Company reports the following information pertaining to the month of January.
Materials Inventory
Work in Process Inventory
Finished Goods Inventory
Ending
Balance
$ 15,000
30,000
50,000
Beginning
Balance
$ 45,000
70,000
40,000
During January, the company purchased $60,000 of direct materials and incurred $80,000 of direct labor costs. Total manufacturing
overhead costs for the month amounted to $25,000. Selling and administrative expenses amounted to $100,000, and the company's
January sales amounted to $500,000.
a. Prepare Sebeka's schedule of the cost of finished goods manufactured.
b. Prepare Sebeka's income statement (ignore income taxes).
Complete this question by entering your answers in the tabs below.
Required A Required B
Prepare Sebeka's schedule of the cost of finished goods manufactured.
SEBEKA COMPANY
Schedule of the Cost of Finished Goods Manufactured
For the Month Ended January 31
Work in process inventory, January 1
Manufacturing costs assigned to production:
Direct materials used
Total cost of work in process
0
$
0
Cost of finished goods manufactured
$
0
Required A
Required B >
