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Among the Items That Howard Print Shop Accounts for Are

Question 208

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Among the items that Howard Print Shop accounts for are the following. Howard Print Shop prepares the schedule and financial statements on a yearly basis. For each item, indicate by using the appropriate letter(s) the schedule and/or financial statements in which the item will appear

Premises:
Direct labor
Office supplies used
Depreciation on printing machines
Finished goods inventory, 12/31
Raw materials inventory, 1/1
Cost of goods manufactured
Work in process, 1/1
Office supplies inventory, 12/31
Indirect labor
Heat and electricity for the print shop
Responses:
Cost of goods manufactured schedule.
Income statement.
Balance sheet.

Correct Answer:

Direct labor
Office supplies used
Depreciation on printing machines
Finished goods inventory, 12/31
Raw materials inventory, 1/1
Cost of goods manufactured
Work in process, 1/1
Office supplies inventory, 12/31
Indirect labor
Heat and electricity for the print shop
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