Auto Home page Star D Layout The AA #TU. A EDES- 5 % 15 29 0 15: A B D E F G H 1 Problem 2-1 Cost of Goods Manufactured, Cost of Goods Sold, and Income 2 The following information is available for Satterfield's Custom Glass for the fiscal year ending 3 December 31, 2020: 4 Beginning balance in Work In Process Inventory $ 210,000 5 Ending balance in Work In Process Inventory 300,000 6 Beginning balance in Finished Goods Inventory 500,000 7 Ending balance in Finished Goods Inventory 400,000 2,500,000 8 Direct material cost 3,000,000 9 Direct labor cost 1.700,000 10 Manufacturing overhead 11 Selling and administrative evnences 1250 nnn P2-1 2 0 D II ED Autes cho Excel Enco crystal Reve Soda POF 11 C Share Com Home Insent D Page Layout Formas Date betona - - AA => BIOA E 29 00 5 - % Cando fort O 151 1,350,000 8,500,000 12 B DE F G H 11 Selling and administrative expenses Sales 13 14 Required 15 a. Prepare a schedule of costs of goods manufactured. 10 17 Satterfield's Custom Glass 18 Schedule of Cost of Goods Manufactured 19 For the Year Ended December 31, 2020 20 Beginning balance in work in process inventory 21 Add current manufacturing costs: P2-1 . C 3 O c H Insert Dr Data Review cytotright View Help Seda Foto beton Page Layout Form A == A D 2 $%94 wed Condor 2 O 1 . G J B DE F 20 H Beginning balance in work in process inventory 21 Add current manufacturing costs: 2 3 4 5 Total 6 Less ending balance in work in process inventory 7 Cost of goods manufactured 3 b. Prepare an income statement for fiscal 2020. Ignore income taxes. Satterfield's Custom Glass P2-1 > Autove cylight BE O X Til In D do well Page Layout Forma Dita - 12-A ** === Review Help Soda POF 11 Comments ortation som 298 199 Cum Condom $ % 913 Fog na De 153 A J 31 32 33 B D E F G H Satterfield's Custom Glass Income Statement For the Year Ended December 31, 2020 Sales Less cost of goods sold: 34 35 36 37 38 39 40 41 42 Gross profit Less nonmanufacturing expenses: e .00 do 14 - Bad Home Review light Ver Help Soda It Out on San Page Layout Formus Data 2-AA == 12 0-A Share Comments - . of $ . % 92 Control For you Sorted F lo Analye Ona 13 M > f A B D E F G H J Gross profit Less nonmanufacturing expenses: Net income (loss) Note: Some of the columns highlighted in yellow require subtotals or totals. Instructions: Please upload the following Excel template and complete the highlighted cell areas. Formulas must be used in all of the cells as opposed to just typing in the numbers. P2-1 CAM W01 o
