1.275.000 79,050 19,635 Beg raw materials Inventory purchase of raw materials Ending raw materials Direct Materials used in production SalesSales Discount Sales Return Net Sales 144330 Direct Labour 368,730 41,820 61,200 COGS Gross Profit SalesDepreciation factory Utilities , factory Administrative expense Purchase of raw materials Raw materials Mar31 , 2020 selling expense Raw materials , 2020 Work in inventory , Mar31 Insurance factory Direct labour Work inventory Marist Indirect labour Rnished Goods Inventory Supplies , factory Finished Goods Inventory , Mar31 Maintenance , factory 51,000 21.420 80,223 Manufacturing overhead Indirect Materials ( like lubricant ) Indirect Labour like supervisor salary ) Factory Supplies Factory , Insurance Factory property tax Factory , repair and maintenance Factory Rent Factory Depreciation for machine and building Total Manufacturing overhead Factory building 91.800 156,060 132.600 7140 107,100 45.390 Operating Expense Office Supplies office , Insurance Office Property tax office building office , Rent office , repair and maintenance Office , Depreciation for equipment and building Total Operating Expenses Required : prepare the income statements Total Manufacturing Cost ( New W.IP ) + Beg Ending WIP Cost of Goods Manufactured ( new finished goods ) Net Profit Net Profile Date first Beg Finished Goods Ending Finished Goods COGS Student