Christian Company provided the following data for the year ended December 31, 2014: Sales Sales salaries Advertising Indirect labor Delivery expense Freight in Depreciation - machinery Factory taxes Purchases Direct labor Factory supplies expense Office supplies expense Office salaries Factory superintendence Doubtful accounts Factory maintenance Factory heat, light and power Income tax expense 8,000,000 520,000 120,000 Finished goods Goods in process Raw materials 600,000 160,000 80,000 50,000 130,000 1,600,000 1,480,000 120,000 30,000 800,000 480,000 100,000 150,000 220,000 170,000 Inventory balances at the end of the fiscal period as compared with balances at the beginning of the fiscal period were as follows: 200,000 decrease 90,000 decrease 100,000 increase Required: Prepare an income statement for the year ended December 31, 2014 supported by a schedule of cost goods manufactured.
Christian Company provided the following data for the year ended December 31, 2014: Sales Sales salaries Advertising Indirect labor Delivery expense Freight in Depreciation - machinery Factory taxes Purchases Direct labor Factory supplies expense Office supplies expense Office salaries Factory superintendence Doubtful accounts Factory maintenance Factory heat, light and power Income tax expense 8,000,000 520,000 120,000 Finished goods Goods in process Raw materials 600,000 160,000 80,000 50,000 130,000 1,600,000 1,480,000 120,000 30,000 800,000 480,000 100,000 150,000 220,000 170,000 Inventory balances at the end of the fiscal period as compared with balances at the beginning of the fiscal period were as follows: 200,000 decrease 90,000 decrease 100,000 increase Required: Prepare an income statement for the year ended December 31, 2014 supported by a schedule of cost goods manufactured.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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