Columbus Company
Cost of Goods Sold Statement
October 31, 20..
Direct Materials
Materials and supplies, October 01 40,700
Purchase 24,800
Materials available for use 65,500
less : Materials and supplies, October 31 31,750
Supplies used 3,950
Direct Materials Used 29,800
Direct Labor 18,600
Applied Factory Overhead 27,450
Manufacturing Cost 75,850
Add : Work In Process, october 01 4,070
79,920
Less : Work In Process, october 31 4,440
Cost of Goods Manufacture 75,480
Add : finished Goods, October 01 9,800
85,280
Less : finished Goods, October 31 9,250
Cost of Goods Sold 76,030
Columbus Company
Income Statement
October 31, 20..
Sales 144,900
Less : Sales Return and allowance 1,300
Net Sales 143,600
Cost Of Goods Sold 76,030
Gross Profit 67,570
Operating Expense
Marketing Expense 25,050
Depreciation - Building 30
Depreciation -office equipment 16 25,096
Administrative Expense 19,700
Depreciation - Building 20
Depreciation -office equipment 24 19,744
Income From Operating 22,730