Assume the following information:

• Direct labor cost is equal to 50% of direct material cost of your product.
• MOH is equal to 50% of direct material cost of your product.
• Work in process, beginning inventory = $100.
• Work in process, ending inventory = $100.
• Finished goods beginning inventory is 100 units.
• Finished goods ending inventory is 300 units.
• The number of units produced is 1,000 units and number of units sold is 800 units.
• Selling price is 50% greater than the cost of your product.
• Selling and administrative expenses are equal to 5% of total sales.
• Income tax rate = 8%.

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Required:

1. Prepare the cost of goods manufactured schedule.
2. Prepare the cost of goods sold schedule.

c. Prepare the income statement

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THIS IOS THE FULL QUESTION AND IFORMATIONS