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Reno Company Provided the Following Information Regarding Its Operations for the Month

Question 149

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Reno Company provided the following information regarding its operations for the month ending September 30:
 Acministrative salaries 30,000 Depreciation on factory equipment 12,000 Indirect materials 2,000 Marketing and distribution costs 24,000 Salaries for factory supervisors 20,000 Wages for production workers26,000 Raw materials used38,000 Sales revenues196,000 Selling costs18,000 Utilities for production facilities8,000 Number of units produced20,000Number of units sold 15,000\begin{array}{ll}\text { Acministrative salaries } & 30,000 \\\text { Depreciation on factory equipment } & 12,000 \\\text { Indirect materials } & 2,000 \\\text { Marketing and distribution costs } & 24,000 \\\text { Salaries for factory supervisors } & 20,000 \\\text { Wages for production workers} & 26,000 \\\text { Raw materials used} & 38,000\\\text { Sales revenues}&196,000\\\text { Selling costs}&18,000\\\text { Utilities for production facilities}&8,000\\\text { Number of units produced}&20,000\\\text {Number of units sold }&15,000\end{array}
Required:Compute the firm's total manufacturing overhead cost.Prepare a schedule of inventory costs that shows total product costs, ending inventory, and cost of goods sold; andPrepare an income statement for the month ending September 30.

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