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Shaler Corporation Direct Materials Inventory Work in-Process Inventory Finished goods Inventory Purchases of direct materials Direct Manufacturing Labor Indirect Manufacturing Labor Indirect Materials Plant Insurance Depreciation-Plant, Building, and Equipment Plant Utilities Repairs and Maintenance-Plant Equipment Leaseing Costs Marketing, distibution, and customer-service costs General and Administrative costs Revenues 2014
Beginning of 2014 $ $ $
130,000 $ 166,000 $ 246,000 $ $ $ $ $ $ $ $ $ $ $ $ $
End of 2014 68,000 144,000 204,000 256,000 212,000 96,000 28,000 4,000 42,000 24,000 16,000 64,000 124,000 68,000 1,200,000
COGM COGM INCOME STATEMENT COGM COGM COGM COGM COGM COGM COGM COGM COGM INCOME STATEMENT INCOME STATEMENT INCOME STATEMENT
Shaler Corporation Schedule of Cost of Goods Manufactured For the Year Ended December 31,2014 I Direct Materials: Beginning Inventory, Jan 1, 2014 Purchases of directs materials Cost of direct materials available for use Ending Inventory, December 31, 2014 Direct materials used
$ $ $ $
130,000 256,000 386,000 68,000
II Direct Manufacturing Labor III Manufacturing Overhead Indirect Manufacturing Labor Indirect Materials Depreciation-Plant, Building, and Equipment Plant Insurance Plant Utilities Repairs and Maintenance-Plant Equipment Leaseing Costs Total Manufacturing Overhead Costs Manufacturing costs incurred during 2014 Beginning work-in-process inventory, January 1, 2014 Total Manufactruing Cossts to account for Ending work-in process inventory, December 31, 2014 Cost of goods manufactured
$ $ $ $ $ $ $
$
318,000
$
212,000
$
274,000
$ $ $ $ $
804,000 166,000 970,000 144,000 826,000
96,000 28,000 42,000 4,000 24,000 16,000 64,000
Shaler Corporation Income Statement For the Year Ended December 31,2014 I Revenues II Cost of Goods Solds Beginning Finished Goods Inventory, January 1, 2014 Cost of goods Manufactured Cost of goods available for sale Ending Finished Goods Inventory, January 1, 2014 Cost of Goods Sold Gross Margin III Operating Costs Selling Cost: Marketing, distibution, and customer-service costs Administrative Cost: General and Administrative costs Total Operating Costs Net Income
$ $ $ $
$
1,200,000
$ $
868,000 332,000
$ $
192,000 140,000
246,000 826,000 1,072,000 204,000
$
124,000
$
68,000