38. Income Statement and Supporting Schedules. The following financial information is for Industrial Company. (Note that the most current financial information is presented in the first column.)

	December 31, 2021	December 31, 2020
Raw materials inventory	$24,000	$30,000
Work-in-process inventory	1,800,000	1,650,000
Finished goods inventory	1,050,000	1,230,000

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, 2021. The company also had the following costs for the year:

Selling	$270,000
General and administrative	$720,000
Raw materials purchases	$300,000
Direct labor used in production	$375,000
Manufacturing overhead (not indirect materials)	$1,890,000

Required:

1. 1. schedule of raw materials placed in production for the year ended December 31, 2021.
   2. schedule of cost of goods manufactured for the year ended December 31, 2021.
   3. schedule of cost of goods sold for the year ended December 31, 2021.
   4. income statement for the year ended December 31, 2021.
   5. the three types of costs included in cost of goods sold on the income statement. (Dollar amounts are not necessary in your descriptions.)

39. Income Statement and Supporting Schedules. The following financial information is for Danville Company. (Note that the most current financial information is presented in the first column.)

	December 31, 2020	December 31, 2019
Raw materials inventory	$8,000	$10,000
Work-in-process inventory	600,000	550,000
Finished goods inventory	350,000	410,000

Of the total raw materials placed in production for the year, $12,000 was for indirect materials. Danville had $1,265,000 in sales for the year ended December 31, 2020. The company also had the following costs for the year:

Selling	$90,000
General and administrative	$240,000
Raw materials purchases	$100,000
Direct labor used in production	$125,000
Manufacturing overhead	$630,000 (not including indirect materials)

Required:

1. schedule of raw materials placed in production for the year ended December 31, 2020.
2. schedule of cost of goods manufactured for the year ended December 31, 2020.
3. schedule of cost of goods sold for the year ended December 31, 2020.
4. an income statement for the year ended December 31, 2020.
5. three types of costs included in cost of goods manufactured. (Dollar amounts are not necessary in your descriptions.)

40. Income Statement and Supporting Schedules.The following information is for Ciena, Inc., for the year ended December 31, 2020.

Raw materials inventory beginning balance	$15,000
Raw materials inventory ending balance	$12,000
Work-in-process inventory beginning balance	$825,000
Work-in-process inventory ending balance	$900,000
Finished goods inventory beginning balance	$615,000
Finished goods inventory ending balance	$525,000
Raw material purchases	$150,000
Direct labor used in production	$187,500
Manufacturing overhead (not indirect materials)	$945,000
Selling costs	$135,000
General and administrative	$360,000
Sales revenue	$1,897,500

Of the total raw materials placed in production for the year, $18,000 was for indirect materials.

Required:

1. schedule of raw materials placed in production for the year ended December 31, 2020.
2. schedule of cost of goods manufactured for the year ended December 31, 2020.
3. schedule of cost of goods sold for the year ended December 31, 2020.
4. an income statement for the year ending December 31, 2020.

41. Income Statement and Supporting Schedules. The following information is for Diablo, Inc., for the year ended December 31, 2021.

Raw materials inventory beginning balance	$60,000
Raw materials inventory ending balance	$48,000
Work-in-process inventory beginning balance	$3,300,000
Work-in-process inventory ending balance	$3,600,000
Finished goods inventory beginning balance	$2,460,000
Finished goods inventory ending balance	$2,100,000
Raw material purchases	$600,000
Direct labor used in production	$750,000
Manufacturing overhead (not indirect materials)	$3,780,000
Selling costs	$540,000
General and administrative	$1,440,000
Sales revenue	$7,590,000

Of the total raw materials placed in production for the year, $72,000 was for indirect materials.

Required:

1. schedule of raw materials placed in production for the year ended December 31, 2021.
2. schedule of cost of goods manufactured for the year ended December 31, 2021.
3. schedule of cost of goods sold for the year ended December 31, 2021.
4. income statement for the year ending December 31, 2021.