Butte Components produces a variety of hardware products, primarily for the do-it-yourself (DIY) market. As part of your job interview as a summer intern at Butte, the cost accountant provides you with the following (fictitious) data for the year:

Required
Prepare the income statement with a supporting cost of goods soldstatement.

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1Inventory information: 12/31/00 48,00055,000 68,000 987,0001,013,000 2 1/1/00 3 Direct materials 4 Work in process 5 Finished goods 76,000 6 7 Other information: 8 Administrative costs 9 Depreciation (Factory) For the year 00 2,100 2,780 4,620 6,500 5,150 1,670 480 185 1,070 30,110 530 10 Depreciation (Machines) 1Direct labor 12 Direct materials purchased 13 Indirect labor (Factory) 14 Indirect materials (Factory) 15 Property taxed (Factory) 16 Selling costs 17 Sales revenue 18 Utilities (Factory)