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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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![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
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:
Finished goods
Goods in process
Raw materials
Required:
Prepare an income statement for the year ended December
31, 2014 supported by a schedule of cost goods manufactured.
200,000 decrease
90,000 decrease
100,000 increase](https://content.bartleby.com/qna-images/question/38645cca-e606-47fd-b3fc-eaaf6c321248/4aaf9ac7-0e7e-42a9-adc6-0a54114ab9a1/lvq9yw_thumbnail.jpeg)
Transcribed Image Text: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
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:
Finished goods
Goods in process
Raw materials
Required:
Prepare an income statement for the year ended December
31, 2014 supported by a schedule of cost goods manufactured.
200,000 decrease
90,000 decrease
100,000 increase
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