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  • Week Ended August 31, 2018: Income Statement

    Transféré par

    hazel llanto
    15 vues6 pages
    For the week ended August 31, 2018: - Net sales were ₱460 with a gross profit of ₱98.15 after deducting cost of goods sold of ₱361.85 and operating expenses of ₱20, resulting in a net income of ₱78.15. - Raw materials purchased totaled ₱361.85 and 230 pieces of munchkins were sold for ₱460. - Cost of goods manufactured was ₱381.85. For the week ended September 4, 2018: - Net sales were ₱500 with a gross profit of ₱185.4 after deducting cost of goods sold

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    For the week ended August 31, 2018: - Net sales were ₱460 with a gross profit of ₱98.15 after deducting cost of goods sold of ₱361.85 and operating expenses of ₱20, resulting in a net income of ₱78.15. - Raw materials purchased totaled ₱361.85 and 230 pieces of munchkins were sold for ₱460. - Cost of goods manufactured was ₱381.85. For the week ended September 4, 2018: - Net sales were ₱500 with a gross profit of ₱185.4 after deducting cost of goods sold

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    © All Rights Reserved
    Téléchargez comme DOCX, PDF, TXT ou lisez en ligne sur Scribd
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    15 vues6 pages

    Week Ended August 31, 2018: Income Statement

    Transféré par

    hazel llanto
    For the week ended August 31, 2018: - Net sales were ₱460 with a gross profit of ₱98.15 after deducting cost of goods sold of ₱361.85 and operating expenses of ₱20, resulting in a net income of ₱78.15. - Raw materials purchased totaled ₱361.85 and 230 pieces of munchkins were sold for ₱460. - Cost of goods manufactured was ₱381.85. For the week ended September 4, 2018: - Net sales were ₱500 with a gross profit of ₱185.4 after deducting cost of goods sold

    Droits d'auteur :

    © All Rights Reserved
    Téléchargez comme DOCX, PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 6

    Income Statement

    Week Ended August 31, 2018

    Net Sales:
    Sales ₱460
    Less: Cost of Goods Sold
    Finished Goods Inventory 0.00
    Add: Cost of Goods Manufactured 361.85
    Goods Available for Sale ₱361.85
    Less: Finished Goods Inventory 0.00
    ₱361.85 ₱361.85
    Gross Profit ₱98.15

    Less: Operating Expense 20.00 20.00


    Net Income ₱78.15

    List of Purchased
    As of August 31, 2018

    Item/ Description Quantity Amount


    Jersey Condense 2pcs. 57.5
    Ideal Dessicated Coconut 1pc. 47.25
    Nips Porta Pack 1pack 28.65
    Reb Barnuts 1bag 17.45
    Reb Ace Choco Munch 2bags 91
    Mango 2kls 120
    ₱361.85

    List of Sales
    As of August 31, 2018

    No. Of Pieces Sold Amount


    Munchkins/pc. @2.00 230 ₱460

    Income Statement
    Week Ended September 4, 2018

    Net Sales:
    Sales ₱500
    Less: Cost of Goods Sold
    Finished Goods Inventory 0.00
    Add: Cost of Goods Manufactured 314.6
    Goods Available for Sale ₱314.6
    Less: Finished Goods Inventory 0.00
    ₱314.6 ₱314.6
    Gross Profit ₱185.4

    Less: Operating Expense 20.00 20.00


    Net Income ₱165.4
    List of Purchased
    As of September 4, 2018

    Item/ Description Quantity Amount


    Jersey Condense 2pcs. 57.5
    Nips Porta Pack 1pack 28.65
    Reb Barnuts 1bag 17.45
    Reb Ace Choco Munch 2bags 91
    Mango 2kls 120
    ₱314.6

    List of Sales
    As of September 4, 2018

    No. Of Pieces Sold Amount


    Munchkins/pc. @2.00 250 ₱500

    MUNCHKINS
    1st PRODUCTION
    Statement of Cost of Good Manufactured
    For the Week Ended August 31, 2018
    Direct Materials Used:
    Raw Materials Inventory, beg 0.00
    Add: Net Cost of Purchases
    Purchases - Raw Materials ₱361.85
    Total ₱361.85
    Less: Materials Inventory, end 0.00

    Manufacturing Overhead
    Indirect Labor 0.00
    Direct Labor 20.00
    ₱20 ₱20.00
    Total Manufacturing Cost ₱381.85
    Add: Work in Process, beg 0.00
    Total Cost fo Goods Placed in Process ₱381.85
    Less: Work in Process, end 0.00
    Cost of Goods Manufactured ₱381.85

    Statement of Cost of Good Sold


    Week Ended August 31, 2018

    Finished Goods Inventory, beg 0.00


    Add: Cost of Goods Manufactured ₱381.85
    Goods Available for Sale ₱381.85
    Less: Finished Goods Inventory, end 0.00
    Cost of Goods Sold ₱381.85

    MUNCHKINS
    1st PRODUCTION
    Statement of Cost of Good Manufactured
    For the Week Ended August 31, 2018

    Direct Materials Used:


    Raw Materials Inventory, beg 0.00
    Add: Net Cost of Purchases
    Purchases - Raw Materials ₱314.6
    Total ₱314.6
    Less: Materials Inventory, end 0.00

    Manufacturing Overhead
    Indirect Labor 0.00
    Direct Labor 20.00
    ₱20 ₱20.00
    Total Manufacturing Cost ₱334.6
    Add: Work in Process, beg 0.00
    Total Cost fo Goods Placed in Process ₱334.6
    Less: Work in Process, end 0.00
    Cost of Goods Manufactured ₱334.6

    Statement of Cost of Good Sold


    Week Ended August 31, 2018

    Finished Goods Inventory, beg 0.00


    Add: Cost of Goods Manufactured ₱334.6
    Goods Available for Sale ₱334.6
    Less: Finished Goods Inventory, end 0.00
    Cost of Goods Sold ₱334.6

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