Management accounting Assignments | Essay Help Services
The following are various sales and cost data for Camelot Corporation for the year ended December 31, 2020:
Finished goods inventory, January 1
Finished goods inventory, December 31
Indirect factory materials
Purchases of raw materials
Raw materials inventory, January 1
Raw material inventory, December 31
Direct factory labour
Indirect factory labour
Work in process inventory, January 1
Work in process inventory, December 31
1. Prepare a schedule of cost of goods manufactured for the year ended December 31, 2020.
2. Prepare a schedule of cost of goods sold for the year ended December 31, 2020.
3. Prepare an income statement for the year ended December 31, 2020
You must answer this question using the Excel spreadsheet. Each part of the solution must be entered in the appropriate tab set-up in the spreadsheet. Please make sure that your schedules and statements have the appropriate titles and headings. Where calculation are involved, make sure you use the appropriate functions embedded in Excel rather than doing the calculation on your calculator and simply recording the final answer in the cell.
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