Among the Items That Howard Print Shop Accounts for Are

question 178

Essay

Among the items that Howard Print Shop accounts for are the following:
1. Direct labor
2. Office supplies used
3. Depreciation on printing machines
4. Finished goods inventory, 12/31
5. Raw materials inventory, 1/1
6. Cost of goods manufactured
7. Work in process, 1/1
8. Office supplies inventory, 12/31
9. Indirect labor
10. Heat and electricity for the print shop
Howard Print Shop prepares the following schedule and financial statements on a yearly basis:
(a) Cost of goods manufactured schedule.
(b) Income statement.
(c) Balance sheet.
Instructions
For each item, indicate by using the appropriate letter(s) the schedule and/or financial statements in which the item will appear.