Question

Yolo Windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars):
  

Information on January 1 (Beginning):
Direct materials inventory	$	82
Work-in-process inventory		118
Finished goods inventory		1,690
Information for the year:
Administrative costs	$	3,670
Direct labor		12,650
Direct materials purchases		8,280
Factory and machine depreciation		11,590
Factory supervision		758
Factory utilities		961
Indirect factory labor		2,940
Indirect materials and supplies		687
Marketing costs		1,490
Property taxes on factory		292
Sales revenue		45,600
Information on December 31 (Ending):
Direct materials inventory	$	98
Work-in-process inventory		147
Finished goods inventory		1,460

Required:

Prepare an income statement with a supporting cost of goods sold statement. (Enter your answers in thousands of dollars (i.e., 234,000 should be entered as 234).)

Answer 1