Beginning InventoryEnding Inventory

Direct Material$76,000$83,000

Work-in-Process$331,000$348,000

Finished Goods$679,000$653,000

Direct Material purchased - $261,000

Direct Labor for the month - $219,000

Depreciation, Factory (actual) - $15,000

Depreciation, Office Building - $17,000

Supervisors' salaries, Factory - $94,000

Office Salaries - $221,000

Utilities, Factory - $19,000

Utilities, Office Building - $11,000

Manufacturing overhead (applied) - $124,000

Sales Revenue - $1,075,000

Administrative Expenses - $286,000

Tax rate - 30%

1)Calculate Direct Material used for the month (3 points)

2)Prepare a Cost of Goods Manufactured Statement for the month (7 points)

3)Calculate Cost of Goods Sold for the month (3 points)

4)Prepare the Income Statement for the month (5 points)