Act3o Assignment pr The following information has been taken from the accounting records of Klear-Seal Company for last year $ 165,000 Selling expenses 120,000 Raw materials inventory, January 82.000 Raw materials inventory, December 31 38.500 Uutisectory 157,300 Direct labour cost 155.000 Amortization, factory 723,000 Purchases of raw materials 2.500,000 Sales Insurance factory 42,000 Supplies, factory 14,000 Administrative expenses... 283,000 Indirect Inbour 306,000 Maintenance factory 89,000 Work-in-process inventory, January . . 180,000 Work-in-process inventory, December 31 100,000 X Finished goods inventory, January 1......... 260,000 -Finished goods inventory, December 31..... 210,000 Management wants these data organized in a better format so that financial statements can be prepared for the year. Required: 1. Prepare a schedule of cost of goods manufactured, similar to Exhibit 27. 2. Compute the cost of goods sold. 3. Using data as needed from parts(1) and (2), prepare an income statement. o more with o osoft Edge - the fast, new browser built for Windows 10, Change my default Don't ask ag Type here to search D i Act3o Assignment pr The following information has been taken from the accounting records of Klear-Seal Company for last year $ 165,000 Selling expenses 120,000 Raw materials inventory, January 82.000 Raw materials inventory, December 31 38.500 Uutisectory 157,300 Direct labour cost 155.000 Amortization, factory 723,000 Purchases of raw materials 2.500,000 Sales Insurance factory 42,000 Supplies, factory 14,000 Administrative expenses... 283,000 Indirect Inbour 306,000 Maintenance factory 89,000 Work-in-process inventory, January . . 180,000 Work-in-process inventory, December 31 100,000 X Finished goods inventory, January 1......... 260,000 -Finished goods inventory, December 31..... 210,000 Management wants these data organized in a better format so that financial statements can be prepared for the year. Required: 1. Prepare a schedule of cost of goods manufactured, similar to Exhibit 27. 2. Compute the cost of goods sold. 3. Using data as needed from parts(1) and (2), prepare an income statement. o more with o osoft Edge - the fast, new browser built for Windows 10, Change my default Don't ask ag Type here to search D