Alderman Company Direct materials inventory Beginning of 2020 End of 2020 27,000 28,000 Work-in-process inventory 23,000 22,000 Finished-goods inventory Purchases of direct materials 15,000 24,000 73,000 Direct manufacturing labor 20,000 Indirect manufacturing labor 17,000 Plant insurance 9,000 Depreciation-plant, building, and equipment 18,000 Repairs and maintenance-plant 4,000 Marketing, distribution, and customer-service costs 91,000 General and administrative costs 38,000 Requirements 1. Prepare a schedule for the cost of goods manufactured for 2020. 2. Revenues for 2020 were $305 million. Prepare the income statement for 2020