As a manager make 3 year GAAP Income statement for SunRype pvt ltd ( go through following cost of goods manufactured ) SunRype pvt ltd going to export to Portugal. The data should be richily assumed and Analytically research of Portugal market .

11:18 PM . . 1 66% IBS 660 Accounting Project (1) (1)-1 Q . . . Home Insert Draw Formulas Data Review View Calibri (Body) 12 BI US A Do, A . . . fx G Schedules Section 3 - Chapter 2 (Page 20) Required -Three (3) years Cost of Goods Manufacturing Schedule *Must include rich assumptions in foot notes Sun- Rype Products Ltd Cost of Goods Manufactured Schedule For the Year Ended December,31 12 2022 13 2023 2024 14 Work in process , January 1 77,180 15 Direct Materials 176,745 260,040 16 Raw material inventory , January 94,725 73,400 17 110,100 Raw material purchasees 225,000 18 337,500 Total raw material available for use 371,250 319,725 410,900 513,625 Less: Raw materials inventory , December 73,400 110,100 Direct Material used 137.625 246,325 128 250 300,800 376,000 Manufacturing overhead Indirect Labor 82,700 124,050 150,00 ndirect Materials 40,000 60,000 75,000 Factory manager's salary 25,000 28,000 26 30,000 Factory repairs 7,250 12,687 15,089 Factory utilities 4,250 28 6,800 Factory depriciation 3,900 10,000 5,850 29 7,056 Factory insurance 3,250 5,688 30 6,500 Total manufacturing overhead 166,350 31 243,075 Total manufacturing costs 293,645 618,105 32 913,370 Total cost of work in process 1,170,622 33 705,000 1,065,000 ss: Works in Process , December 31 1,274,877 176,745 260,040 34 326,727 Cost of goods manufactured 528,255 804,960 948,150 Footnotes to explain assumptions and numbers: Explain your Assumptions/ Justifications As we are entering a new market cost of goods Cost of goods manufactured for 2022 is highest i.e 54.6% of total sales 528,255.00 manufactured for the first year will be the highest and the 42 gross profit will be minimum to create a niche in the In the year 2023 we are anticipated to do well because of ost of goods manufactured for 2023 will be less than 2022 i.e 52% of sale 804,960.00 WH which total manufacturing costs will decrease leading to more profits 43 In the year 2024 we will hit our projected results and it goods manufactured for 2024 will be less than 2023 i.e 49% will decrease the cost of manufacturing even more leading 948,150.00 to the increase in gross profits. 44 45 46 47 49 50 52 53 1. Overview 2. Sales forecast 3. Cost of Goods M... 4. Income S +