Chaptal 2 Homework Question 5, E2-27A (similar to) HW Score: 34.5%, 1.73 of 6 points O Peints of 1 Prepare the income statement for Strike Gold Company for the meat recent year Use the ciculation of cost of goods sont cost of goods manufactured, and the amounts below Assume that the empeny s 34,000 units of its protect at $10 each during the year Save Len Leta (Cok the son calculation of cost of goods manufactured) (Chin the icon view the caution of cost of goods so Strike Gold Company Income Statement For Current Year Data table Beginning of Year End of Year End of Year Raw materials inventory 29,000 31,000 con $10,000 Work in process inventory Finished goods inventory $ 37,000 $ 5 35.000 Depration-plant building and equ 18.000 $ 2000 Repairs and maint 12,300 3.000 Purchases of direct malaria $79.000 Marketing exp $80000 Direct labor $82,000 General and administrative expens $24,500 indic $ 42,000 Print Done ctured Reference Strike Gold Industries. Calculation of Cost of Goods Manufactured For Current Year Beginning work in process inventory Plus: Manufacturing costs incurred Direct materials used Direct labor Manufacturing overhead Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured (CGM) $ 37,000 77,000 82,000 68,700 264,700 35,000 $ 229,700 - X Strike Gold Manufacturing Calculation of Cost of Goods Sold Beginning finished goods inventory Plus: Cost of goods manufactured Cost of goods available for sale For Current Year Less: Ending finished goods inventory Cost of goods sold Print Done 19,000 229,700 248,700 28,000 220,700