$(12$ points$)$ The following data have been taken from the accounting records of Larder

Corporation for the just completed year.

Sales.

$.$$$2,135,000$

Purchases of raw materials

$$520,000$

Direct labor.

$$465,000$

Applied Manufacturing overhead.

$$415,000$

Administrative expenses

$$285,000$

Selling expenses.

$$256,000$

Raw materials inventory, beginning

Raw materials inventory, ending.

$$410,000$

Work in process inventory, beginning

$$315,000$

Work in process inventory, ending.

$$385,000$

Finished goods inventory, beginning.

$$361,000$

Finished goods inventory, ending.

$$355,000$

$$308,000$

Required:

a$.$ Prepare a Schedule of Cost of Goods Manufactured in good form.

b$.$ Compute the Cost of Goods Sold.

c$.$ Using data from your answers above, prepare an Income Statement $($using the

traditional format$).$