4 3.75 ginta 1.575 Indirect labor reprezenta 15 percent of the total manufacturing plant isbor. The financial Information for the year just ended is shown as follows. (Thousands of dollars) Administrative costs $ 210 Total building depreciation 58 Direct materials inventory, January 1 Direct materials inventory, December 31 Pindad purchased during the year Inventory, December 31 05 210 on plant sachinery 345 costs 125 profit 710 Other plant overhead 70 Plant Supervision and aduinistration 150 supplies and indirect materials 72 Sales revenue 5,50 Taxes on manufacturing property 122 work-in-process Inventory, January 1 85 work-in-process inventory, December 31 115 Required: 1. Prepare a cost of goods manufactured and sold statement 2. Prepare an income statement Complete this question by entering your answers in the tabs below. COGM and COGS Sms Income Sim Prepare a cost of goods manufactured and sold statement. (Enter your answers in thousands of dollars (.e., 234,000 should be entered as 234).) WESTLAKE, INC. Cost of Good Manufactured and Bold statement For the Year Ending December 31 Thousands of Dollars) Manufacturing costs Direct materials Manufacturing overhead Total Overhead Total manufacturing costs Total cost of work-in-process during the year Costs of goods manufactured this year Cost of goods available for sale Cost of Gods sold CONCE Income mt> 4 3.75 Ginta 580 Westlake, Inc. produces metsl fittings for the serospace Industry. The sdministrstve and manufacturing operations occupy the same 200,000 square foot burlaing. The manufacturing plant ses 150.000 square feet Depreciation is assigned based on building ups. Indirect labor represents 15 percent of the total manufacturing plant labor. The financial Information for the year just ended is shown as follows (Thousands of dollars) Administrative costs Total building depreciation Direct materials inventory, January 1 20 Direct waterials inventory, December 31 Direct saterials purchased during the year Finished goods inventory, December 31 Maintenance on plant sachinery 145 Marketing costs 125 Operating profit 710 Other plant overhead Plant Supervision and aduinistration Plant supplies and indirect materials 72 Sales revenue 5.500 Taxes on manufacturing property 122 work-in-process Inventory, January 1 85 work-in-process Inventory, December 31 1,575 85 210 150 115 Required: 1. Prepares cost of goods manufactured and sold statement 2. Prepare an income statement Complete this question by entering your answers in the tabs below. COGM and COGS S Encome Sim Prepare an income statement. (Enter your answers in thousands of dollars (l.e., 234,000 should be entered as 234).) WEBTLAKE, INC Income Statement For the Year Ending December 31 (Thousands of Dollar) Total operating costs