The following information is available for Simmonds Ltd at 31 December 2018:
1. 2. Debit postings to Work in process inventory during the year were:
3. Sales totalled $350,000 for the year.
Instructions:
(a) Prepare a condensed cost of goods manufactured schedule.
(b) Prepare an income statement for the year through gross profit.

Question

The following information is available for Simmonds Ltd at 31 December 2018:
1.  2. Debit postings to Work in process inventory during the year were:
  3. Sales totalled $350,000 for the year.
Instructions:
(a) Prepare a condensed cost of goods manufactured schedule.
(b) Prepare an income statement for the year through gross profit.

Quizplus · Accepted Answer

The Answer of The following information is available for Simmonds Ltd at 31 December 2018:
1.  2. Debit postings to Work in process inventory during the year were:
  3. Sales totalled $350,000 for the year.
Instructions:
(a) Prepare a condensed cost of goods manufactured schedule.
(b) Prepare an income statement for the year through gross profit.

The Following Information Is Available for Simmonds Ltd at 31