Chrome Crafted, Inc.

Statement of Cost of Goods Manufactured

For the Month Ended October 31, 2013
Direct Materials:
Inventory, October 1
Purchases
Total cost of available materials
Less inventory, October 31
Less indirect materials
Cost of materials used in production
Direct Labor
Factory Overhead
Total manufactured costs during the month
Add work in process

$
$
$
$
$

15,000.00
69,500.00
84,500.00
29,450.00
2,450.00
$
$
$
$
$
$
$
$

52,600.00
25,500.00
22,002.00
100,102.00
3,600.00
103,702.00
25,000.00
78,702.00

43,142.00

$
$
$
$

8,750.00
78,702.00
87,452.00
58,691.00 $
$

28,761.00
14,381.00

$
$
$
$

18,300.00
2,379.00
1,500.00
175.00 $
$

22,354.00
(7,973.00)

Less work in process

Total manufactured costs

Chrome Crafted, Inc.

Income Statement
For the Month Ended October 31, 2013
Net Sales
Cost of goods sold
Finished goods inventory, October 1
Add cost of goods manufactured
Goods available for sale
Less finished goods inventory, October 31
Gross profit on sales
Expense:
Salaries expense
Payroll tax expense
Miscellaneous Selling and Administrative Expense
Depreciation Expense - Office Equipment
Net Income

Chrome Crafted, Inc.

Balance Sheet
For the Month Ended Ocober 31, 2013
Assets
Current Assets:
Cash
Accounts receivable
Prepaid Insurance
Inventories:
Finished Goods
Work in Process
Materials
Total Current Assets
Plant and Equipment:
Factory building
Less: accumulated depreciation
Machinery and Equipment
Less: accumulated depreciation
Office Equipment
Less: accumulated depreciation
Total plant and equipment
Total assets

Liabilities and Stockholders' Equity

Current liabilities:
Accounts payable
FICA tax payable
Federal Unemployment tax payable
State Unemployment tax payable
Employess Income tax payable
Total current liabilities
Stockholders' equity
Capital stock
Retained earnings
Total stockholders' equity
Total liabilities and stockholders' equity

$
$
$

20,244.00
9,342.00
4,200.00

$
$
$

58,691.00
25,000.00
29,450.00 $
$

113,141.00
146,927.00

$
$
$
$
$
$

64,000.00
22,767.00 $
38,000.00
16,633.00 $
10,500.00
7,675.00 $
$
$

$
$
$
$
$

72,000.00
8,528.00
897.00
3,536.00
5,330.00

$
$

41,233.00
21,367.00
2,825.00
65,425.00
212,352.00

90,291.00

$
$

122,061.00
212,352.00

75,000.00
47,061.00