Basic manufacturing computations Chapter Three Exercise 4 Lyon Manufacturing reported total manufacturing costs (direct materials used, direct labor, and factory overhead) of $553,000 for 20X3 Sales and operating expenses were $764,200 and $142,500, respectively The following information appeared on company balance sheets For the Year Ended 12 31 X3 12 31 X2 Finished goods $150,000 $153,700 Work in process 86,400 74,100 Compute cost of goods manufactured, cost of goods sold, and net income for 20X3 Please put answer in the following format I have to place it in a preformated excel spreedsheet ACC206 Guidance Report Week Two Read Only Excel File Home Insert Page Layout Formulas Data Review view Q Tell me what you want to do E14 78 79 YOUR ANSWERS BASED UPON COURSE START DATE 80 Cost of goods manufactured 81 Beginning work in process 82 Manufacturing costs 83 Ending work in process 84 Cost of goods manufactured Cost of goods sold Beginning finished goods 87 88 Cost of goods manufactured 89 Ending finished goods Cost of goods sold 90 91 92 Net income 94 Sales 95 Cost of goods sold 96 Operating expenses 97 Net income 100 101 Original Account to

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Basic manufacturing computations.... Chapter Three Exercise 4 Lyon Manufacturing reported total manufacturing costs (direct materials used, direct labor, and factory overhead) of $553,000 for 20X3.

Basic manufacturing computations.... Chapter Three Exercise 4

Lyon Manufacturing reported total manufacturing costs (direct materials used, direct labor, and factory overhead) of $553,000 for 20X3. Sales and operating expenses were $764,200 and $142,500, respectively. The following information appeared on company balance sheets:

	For the Year Ended
	12/31/X3	12/31/X2
Finished goods	$150,000	$153,700
Work in process	86,400	74,100

Compute cost of goods manufactured, cost of goods sold, and net income for 20X3.

Please put answer in the following format. I have to place it in a preformated excel spreedsheet

image text in transcribed

ACC206 Guidance Report Week Two [Read-Only] Excel File Home Insert Page Layout Formulas Data Review view Q Tell me what you want to do E14 78 79 YOUR ANSWERS BASED UPON COURSE START DATE 80 Cost of goods manufactured 81 Beginning work in process 82 Manufacturing costs 83 Ending work in process 84 Cost of goods manufactured Cost of goods sold Beginning finished goods 87 88 Cost of goods manufactured 89 Ending finished goods Cost of goods sold 90 91 92 Net income 94 Sales 95 Cost of goods sold 96 Operating expenses 97 Net income 100 101 Original Account to