The following financial information is for Industrial Company. The most current financial information is presented in the first column.

Of the total raw materials placed in production for the year, \($36,000\) was for indirect materials. Industrial had \($3,795,000\) in sales for the year ended December 31, 2009. The company also had the following costs for the year:

Required

a. Prepare a schedule of raw materials placed in production for the year ended

a. Direct materials placed in December 31, 2009. production: \($270,000\)

b. Prepare a schedule of cost of goods manufactured for the year ended December 31, 2009.

c. Prepare a schedule of cost of goods sold for the year ended December 31, 2009. Gece Figure

d. Prepare an income statement for the year ended December 31, 2009. Assume __

d. Operating profit: \($240,000\) there is no adjustment for underapplied or overapplied overhead.

e. Describe the three types of costs included in cost of goods sold on the income statement.

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Raw materials inventory Work in process inventory Finished goods inventory December 31, 2009 $ 24,000 1,800,000 1,050,000 December 31, 2008 $ 30,000 1,650,000 1,230,000