Statement Of Comprehensive Income For Manufacturing Company

Raw material ending 40 000 00 direct material used 90 000 00 add.

Statement of comprehensive income for manufacturing company. This statement reveals the company s revenues expenses and net profit or loss records for an accounting period. Although the income statement is a go to document for assessing the financial health of a company it falls short in a few aspects. Limitations of a statement of comprehensive income. Purchases 93 900 00 freight in 1 100 00 total purchases 95 000 00 total raw material avaiable for production 130 000 00 less.

Income statement is also called statement of earnings dividend revenue. Figure 1 7 income statement schedules for custom furniture company. Financial statement of manufacturing company 1. C this is actual manufacturing overhead for the period and includes indirect materials indirect labor factory rent factory utilities and other factory related.

Manufacturing ovehead indirect labor 39 250 00 manufacturing. But don t depend solely on it. Direct labour 250 000 00 add. A statement of comprehensive income is the overall income statement that consolidates standard income statement which gives details about the repetitive operations of the company and other comprehensive income which gives details about the non operational transactions such as the sale of assets patents etc.

The income statement of a manufacturing company is one of the most important financial statements of the company. A from the company s balance sheet at april 30 april 30 ending balance is the same as may 1 beginning balance. B from the company s balance sheet at may 31. The income statement encompasses both the current revenues resulting from sales and the accounts receivables which the firm is yet to be paid.

Other income operating versus non operating income operating income includes revenues and expenses directly related to the principal revenuegenerating activities of the company e g gains or losses from selling equipment other assets used in generating the revenue non operating income includes certain gains and.