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Thompson Company,a Manufacturing Firm,has Supplied the Following Information from Its

Question 123

Essay

Thompson Company,a manufacturing firm,has supplied the following information from its accounting records for the month of November:
Required:
 Factory supplies used $18,000 Depreciation on factory building 17,000 Sal ary of company controller 6,000 Factory janitorial costs 5,000 Marketing and promotion 4,500 Direct labour cost 22,000 Purchases of raw materials 10,000 Finished goods inventory, Nov. 1 2,250 Finished goods inventory, Nov. 303,750 Work-in-process inventory, Nov. 1 4,200 Work-in-process inventory, Nov. 30 2,750 Materials inventory, Nov. 1 3,500 Materials inventory, Nov. 30 5,100\begin{array} { l r } \text { Factory supplies used } & \$ 18,000 \\\text { Depreciation on factory building } & 17,000 \\\text { Sal ary of company controller } & 6,000 \\\text { Factory janitorial costs } & 5,000 \\\text { Marketing and promotion } & 4,500 \\\text { Direct labour cost } & 22,000 \\\text { Purchases of raw materials } & 10,000 \\\text { Finished goods inventory, Nov. 1 } & 2,250 \\\text { Finished goods inventory, Nov. } 30 & 3,750 \\\text { Work-in-process inventory, Nov. 1 } & 4,200 \\\text { Work-in-process inventory, Nov. 30 } & 2,750 \\\text { Materials inventory, Nov. 1 } & 3,500 \\\text { Materials inventory, Nov. 30 } & 5,100\end{array} A. Prepare a statement of cost of goods manufactured.
B. Prepare a statement of cost of goods sold.

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