the following events took place for LAE Manufacturing during march, the first month of its operations as prodcuer of digital clocks.

a. purchased $52,000 of materials
b. used $40,000 of direct materials in production
c. incurred $60,000 of direct labor wages
d.incurred $84,000 of factory overhead
e. transferred $140,000 of work in progress to finished
f. sold good with with a cost of $110,000
g. earned revenues of $250,000
h. incurred $64,000 of selling expenses
i. incurred $28,000 of administrative expenses
a. prepare the march income statement for LAE and inventory balances

Question

the following events took place for LAE Manufacturing during march, the first month of its operations as prodcuer of digital clocks.

a. purchased $52,000 of materials 
b. used $40,000 of direct materials in production
c. incurred $60,000 of direct labor wages
d.incurred $84,000 of factory overhead 
e. transferred $140,000 of work in progress to finished
f. sold good with with a cost of $110,000
g. earned revenues  of $250,000
h. incurred $64,000 of selling expenses
i. incurred $28,000 of administrative expenses
a. prepare the march income statement for LAE  and inventory balances

anonymous · Answer

a. prepare the march income statement for LAE 
B. Determine the inventory balances at the end of the first month of operations