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Part A: Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement
Nish Corporation has provided the following data for the month of April:
Sales ............................................... $220,000 Raw materials purchases ............... $50,000 Direct labor cost ............................ $23,000 Manufacturing overhead cost ........ $59,000 Selling expense .............................. $18,000 Administrative expense ................. $43,000
Inventories: Beginning Ending Raw materials ........ $26,000 $35,000 Work in process ..... $18,000 $22,000 Finished goods ....... $42,000 $29,000 Required:
a. Prepare a Schedule of Cost of Goods Manufactured in good form for April. b. Prepare an Income Statement in good form for April.
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