The administrative offices and manufacturing plant of Oakdale Tool & Die ihre the same building.
The following information appears in the accounting records for last year:

Required Prepare an income statement with a supporting cost of goods sold statement.

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Administrative costs.. $1,600,000 Building and machine depreciation (85% of this amount is for factory) 900,000 Building utilities (80% of this amount is for factory) 1,250,000 Direct labor 840,000 Direct materials inventory, December 31 14,000 Direct materials inventory, January 1 12,000 Direct materials purchases 3,650,000 Factory supervision 490,000 Finished goods inventory, December 31 65,000 Finished goods inventory, January 1 Indirect factory labor Indirect materials and supplies Marketing costs Property taxes on building 54,000 912,000 685,000 871,000 840,000 (75% of this amount is for factory) Sales revenue Work-in-process inventory, December 31 Work-in-process inventory, January 1 12,970,000 29,000 32,000