Please do not give solution in image format thanku The Wooden Chair Group has the following sales and cost data for theyear ending 2022:Inventories:Raw MaterialsWork in ProgressFinished GoodsMaterials Purchased - LumberMaterials Purchased - Screws and GlueWages - CarpentersWages - SupervisorWages - CustodianDepreciation - Power SawsFactory UtilitiesInsurance on FactoryFactory Real Estate TaxesSales CommissionsSalespersons Cell PhonesSales - DeliveryBeginning6,0001,0004,000CEO SalaryDepreciation - Administrative EquipmentCopy PaperAdministrative AssistantEnding7,0003,0008,00024,0002,00036,0009,0005,00015,0001,2002,4003,60022,0008,6004,20038,0007,5002,5006,200320,000RevenuePrepare an Income Statement including Cost of Goods Manufactured.

Cost of goods manufactured - referred to as COGM, also called cost of goods completed, it represents…

The Wooden Chair Group has the following sales and cost data for the year ending 2022: Inventories: Raw Materials Work in Progress Finished Goods Materials Purchased - Lumber Materials Purchased - Screws and Glue Wages-Carpenters Wages - Supervisor Wages - Custodian Depreciation - Power Saws Factory Utilities Insurance on Factory Factory Real Estate Taxes Beginning 6,000 1,000 4,000 Sales Commissions Salespersons Cell Phones Sales - Delivery CEO Salary Depreciation - Administrative Equipment Copy Paper Administrative Assistant Ending 7,000 3,000 8,000 24,000 2,000 36,000 9,000 5,000 15,000 1,200 2,400 3,600 22,000 8,600 4,200 38,000 7,500 2,500 6,200 320,000 Revenue Prepare an Income Statement including Cost of Goods Manufactured.

The Wooden Chair Group has the following sales and cost data for the year ending 2022: Inventories: Raw Materials Work in Progress Finished Goods Materials Purchased - Lumber Materials Purchased - Screws and Glue Wages-Carpenters Wages - Supervisor Wages - Custodian Depreciation - Power Saws Factory Utilities Insurance on Factory Factory Real Estate Taxes Beginning 6,000 1,000 4,000 Sales Commissions Salespersons Cell Phones Sales - Delivery CEO Salary Depreciation - Administrative Equipment Copy Paper Administrative Assistant Ending 7,000 3,000 8,000 24,000 2,000 36,000 9,000 5,000 15,000 1,200 2,400 3,600 22,000 8,600 4,200 38,000 7,500 2,500 6,200 320,000 Revenue Prepare an Income Statement including Cost of Goods Manufactured.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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