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Carageenan Inc.: For The Year Ended December 31,20x2 Statement of Cost of Goods Manufactured and Sold

The document provides financial statements for Carageenan Inc. for the year ended December 31, 20x2. The cost of goods manufactured and sold statement shows that the total costs to manufacture goods was $1,095,000 and the cost of goods sold was $915,000. The income statement indicates that the company's net sales were $1,700,000, with a net profit of $414,100 after accounting for costs and expenses. The balance sheet presents the company's assets, liabilities, and equity as of December 31, 20x2.

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Mary Jean Asuncion Brocoy
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55 views

Carageenan Inc.: For The Year Ended December 31,20x2 Statement of Cost of Goods Manufactured and Sold

The document provides financial statements for Carageenan Inc. for the year ended December 31, 20x2. The cost of goods manufactured and sold statement shows that the total costs to manufacture goods was $1,095,000 and the cost of goods sold was $915,000. The income statement indicates that the company's net sales were $1,700,000, with a net profit of $414,100 after accounting for costs and expenses. The balance sheet presents the company's assets, liabilities, and equity as of December 31, 20x2.

Uploaded by

Mary Jean Asuncion Brocoy
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as XLS, PDF, TXT or read online on Scribd
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A.

CARAGEENAN INC.
Statement of Cost of Goods Manufactured and Sold For the Year Ended December 31,20x2 Raw Materials Used Raw Materials, Beginning Add: Purchases Gross Purchases Add: Freight In Cost of Good Delivered Less: Purchases Discount Purchases Returns & Allowances Net cost of Purchases Cost of Goods Available for use Less: Raw Materials, Ending Cost of raw materials used Direct Labor Factory Overhead Depreciation-Factory Equipment Indirect Labor Fuel Miscellaneous Total Factory Overhead Total costs to Manufacture Add: Working In Process, Beginning Cost of Good Placed in Process Less: Work in Process, Ending Cost of Goods Manufactured Add: Finished Goods, Beginning Cost of Good Available for Sale Less: Finished Goods, Ending Cost of Goods Manufactured and Sold

25,000.00 800,000.00 800,000.00 800,000.00 825,000.00 120,000.00 705,000.00 450,000.00 150,000.00

150,000.00 1,305,000.00 100,000.00 1,405,000.00 140,000.00 1,265,000.00 170,000.00 1,095,000.00 180,000.00

915,000.00

B.)

CARAGEENAN INC.
Income Statement For the Year Ended December 31,20x2

Sales Less: Cost of Goods Manufactured and Sold Gross Profit Add: Other Operating Income Total Income Less: Operating Expenses Selling Epxenses Administrative Expenses Interest Expense Net Profit from Operations Less: Financial Costs Net Profit before tax Less: Provision for Income Tax Net Profit after Income Tax

1,700,000.00 915,000.00 785,000.00 785,000.00 165,000.00 55,000.00 60,000.00

280,000.00 505,000.00 505,000.00 90,900.00 414,100.00

CARAGEENAN INC.
Balance sheet As of December 31,20x2

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