59 160 Homework 19-3 61 Below are selected accounts of Woods Manufacturing Company for the year 62 ended December 31, 2023: + 63 64 Raw Materials Purchases $68,000 Sales 65 Direct Labor $65,000 Cash 66 Beg. WIP Inventory @ 1-1-23 $10,000 Plant Depredation 67 End. WIP Inventory @ 12-31-23 $7,000 General & Administrative ..68 Delivery Expense $4,500 Sales Salaries _.69 Sales Commissions $7,000 Beg. Fin. Goods Inv. @ 1-1-23 .70 Factory Utilities $4,000 Office Utilities 71 Plant Insurance $18,000 End. Fin. Goods Inv. @ 12-31-23 172 Indirect labor $21,000 Plant Repairs 173 Beg. Mat. Inventory @ 1-1-23 $13,000 Indirect materials 174 End. Mat. Inventory @ 12-31-23 $9,000 Plant Property Taxes 175 176 a. Prepare a statement of the Cost of Goods Manufactured 177 b. Prepare an Income Statement. 178 179 180 181 182 183 184 185 186 187 188 $275,000 $40,000 $14,000 $3,500 $2,000 $18,500 $8,000 $12,000 $4,000 $2,000 $21,000