Alameda Products uses a job-order costing system. The companys inventory balances on April 1, the start of its fiscal year, were as follows:

Raw Materials: $26,000

Work-in-Progress: $50,000

Finished Goods: $34,000

Manufacturing Overhead: $0

During the year the following occurred:

1. Raw materials purchased on account: $138,000
2. Raw materials issued from the storeroom for use in production: $100,000 (75% direct materials and 25% indirect materials).
3. Employee salaries and wages paid in cash were as follows: Direct Labor-$160,000; Indirect Labor: $60,000; Selling, General and Administrative Expenses (SG&A period cost) $110,000.
4. Utility Costs incurred in the factory and paid in cash (manufacturing overhead--indirect cost): $20,000.
5. Advertising Costs incurred and paid in cash (period cost): $110,000.
6. Depreciation: $50,000 (80% related to factory assets and considered manufacturing overhead; 20% related to corporate assets and considered a period type depreciation expense).
7. Estimated Manufacturing Overhead applied to jobs in W-I-P at a pre-determined overhead rate of $5.00 per unit produced. 30,000 units produced in the current year.
8. Costs of goods transferred from W-I-P to Finished Goods totaled $380,000.
9. Sales for the year totaled $1,400,000 and were all in cash. The total cost to manufacture these goods was $330,000 and were transferred from Finished Goods to Cost of Goods Sold.
10. Paid Income Tax Expense in cash totaling $200,000.

8. Prepare the Multiple Step Income Statement in proper form..properly

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