Chambers Company produces blankets. From its accounting records, it prepares the following schedule and financial statements on a yearly basis.
| (a) |
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Cost of goods manufactured schedule. |
| (b) |
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Income statement. |
| (c) |
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Balance sheet. |
The following items are found in its ledger and accompanying data.
For each item, indicate the schedule and/or financial statement(s) in which the item will appear.
| 1. |
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Direct labor |
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| 2. |
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Raw materials inventory, 1/1 |
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| 3. |
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Work in process inventory, 12/31 |
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| 4. |
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Finished goods inventory, 1/1 |
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| 5. |
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Indirect labor |
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| 6. |
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Depreciation on factory machinery |
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| 7. |
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Work in process, 1/1 |
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| 8. |
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Finished goods inventory, 12/31 |
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| 9. |
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Factory maintenance salaries |
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| 10. |
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Cost of goods manufactured |
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| 11. |
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Depreciation on delivery equipment |
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| 12. |
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Cost of goods available for sale |
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| 13. |
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Direct materials used |
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| 14. |
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Heat and electricity for factory |
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| 15. |
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Repairs to roof of factory building |
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| 16. |
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Cost of raw materials purchases |