Ashf LISTEN TO AUDIO/VIDEO EXPLAINING THE GUIDANCE REPORT Exercise/ Problem Account to be changed Shares Share price $ Original Amount 100000 20 Ch 2…

The first three costs are allocated proportionately on the basis of square feet occupied by the three functional areas. A review of the company’s facilities revealed the following percentages would be appropriate: manufacturing, 50%; sales, 30%; and administrative, 20%. Depreciation is allocated 70, 20, and 10%, respectively.

Instructions

1. Prepare a schedule of cost of goods manufactured in good form.
2. Prepare an income statement in good form.