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Alphabet Inc. provided the following data for the year 2023: Direct Materials Used: $10,200,000 Direct Labor: $7,000,000 Manufacturing Overhead: $6,300,000 Sales: $70,000,000 Selling Expenses: $3,000,000

Alphabet Inc. provided the following data for the year 2023:

  • Direct Materials Used: $10,200,000
  • Direct Labor: $7,000,000
  • Manufacturing Overhead: $6,300,000
  • Sales: $70,000,000
  • Selling Expenses: $3,000,000
  • Administrative Expenses: $2,500,000
  • Beginning Work in Process Inventory: $700,000
  • Ending Work in Process Inventory: $800,000
  • Beginning Finished Goods Inventory: $2,500,000
  • Ending Finished Goods Inventory: $2,600,000

Requirements:

  1. Calculate the total manufacturing cost.
  2. Compute the cost of goods manufactured.
  3. Determine the cost of goods sold.
  4. Prepare an income statement for the year 2023.

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