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statement by adding the appropriate text and
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Ace Manufacturing
Schedule of Cost of Goods Manufactured
For the period ended June 30, 20XX
Direct Materials:

Add: Cost of goods ma
Total Cost of goods ava
Total Raw materials avialable for use

COST OF GOODS SOLD
Total Raw materials used in production
Direct Labor:
Manufacturing Overhead:

Total Manufacturing Overhead
Total Manufacturing Costs

Cost of goods sold (ab
Gross Margin

Selling and administra

Subtotal
COST OF GOODS MANUFACTURED

Net operating income

omplete the schedule of cost of goods manufactured, schedule of cost of goods sold, and income
dding the appropriate text and monetary values. The boxes needing information are indicated with a
white fill. For your convenience, the financial information needed is found to the right.

Ace Manufacturing
Schedule of Cost of Goods Sold
For the period ended June 30, 20XX

Add: Cost of goods manufactured
Total Cost of goods available for sale
COST OF GOODS SOLD

Ace Manufacturing
Income Statement
For the period ended June 30, 20XX

Cost of goods sold (above)
Gross Margin
Selling and administrative expenses:

Total selling and administrative expenses
Net operating income (loss)

Description
Administrative salaries expenses
Advertising expenses
Depreciation of factory & equipment
Direct labor expenses
Finished goods inventory, beginning
Finished goods inventory, ending
Indirect labor expenses
Indirect materials
Other manufacturing overhead expenses
Other selling & administrative expenses
Raw materials inventory, beginning
Raw materials inventory, ending
Raw materials purchased
Sales
Utilities
Work in process inventory, beginning
Work in process inventory, ending

Amount
$ 203,000.00
$
45,000.00
$ 133,000.00
$ 175,000.00
$ 285,000.00
$ 259,000.00
$
54,000.00
$
26,000.00
$
48,000.00
$
15,000.00
$
60,000.00
$
85,000.00
$ 820,000.00
$ 1,805,000.00
$
32,000.00
$ 143,000.00
$ 167,000.00