9- Prepare the income statement for , for the most recentyear, using the amounts and the schedule of cost of goods manufactured below. Assume that the company sold 34,000 units of its product at a price of $15 each during the year.

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Homework: Chapter 2 Score: 0 of 1 pt 1 9 of 13 (12 complete) X E2-27A (similar to) Prepare the income statement for West Nautical Company, for the most recent year, using the amounts and the schedule of cost of goods manufactured below. Assume that the company sold 34,000 units of its product at a price of $15 each during the year. (Click the icon to view the amounts.) (Click the icon to view the schedule.) West Nautical Company Income Statement i Data Table - X i Data Table - X For Last Year Cost of goods sold: Beginning End End West Nautical's Die-Cuts of Year of Year of Year Schedule of Cost of Goods Manufactured Raw materials inventory . . . .. 25,000 $ 32,000 I Insurance on plant. . . . .. $ 13,000 Work in process inventory . . . . . . . 59,000 43,000 Depreciation-plant building Beginning work in process inventory 50,000 Finished goods inventory. . . . . . . . 26,000 30,000 and equipment . . . . . . ... 16,00 Add: Direct materials used Purchases of direct materials . . . . 78,000 Repairs and maintenance-plant . . . . . . . . 5,500 Beginning raw materials inventory 25,000 Direct labour. . . 84.000 Marketing expenses 79,000 Purchases of direct materials 78.000 . . . . . . . Operating expenses: Indirect labour . . . . . . . . . . . . . . .. 19,000 General and administrative expenses 32,000 Available for use 103,000 Ending raw materials inventory (32,000) Print Done Direct materials used $ 71,000 Direct labour 84,000 Total operating expenses Manufacturing overhead: Operating income Indirect labour $ 19.000 Insurance on plant 13,000 Depreciation-plant building and equipment 16,000 Repairs and maintenance-plant 5.500 53.500 Total manufacturing costs incurred during the year 208.500 Total manufacturing costs to account for 267.500 Less: Ending work in process inventory (43,000) Cost of goods manufactured 224.500 Print Done