lolanni Company produced 2,4(^teakwood screens during the past year. These screens sell for $^350 each. lolanni had 112 screens in finished goods inventory at the beginning of the year. At the end of the year, there were 150 screens in finished goods inventory. lolanni's accounting records provide the following information:

Required:
1. Prepare a cost of goods manufactured statement.
2. Compute the cost of producing one screen last year.
3. Prepare an income statement on an absorption-costing basis.

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Purchases of raw materials $190,000 Raw materials inventory, January 1 25,500 Raw materials inventory, December 31 31,000 Direct labor 144,000 Indirect labor 38,610 Rent, factory building 24,000 Depreciation, factory equipment 17,000 Utilities, factory 7,900 Salary, sales supervisor 55,000 Commissions, salespersons 38,000 General administration 59,830 Work in process inventory, January 1 Work in process inventory, December 31 Finished goods inventory, January 1 Finished goods inventory, December 31 45,000 48,150 6,010 9,220