Cost accounting

Consider the following information for Fair Wind Yachts Inc., a manufacturer of sailboat rigging, blocks, and cordage. Advertising expenses Depreciation expense-administrative office Depreciation expense-plant and equipment Depreciation expense-delivery trucks Materials inventory, beginning Materials inventory, ending Direct materials purchases Direct labor Indirect labor Finished goods inventory, beginning Finished goods inventory, ending Insurance on plant Heat and light for plant Repairs on plant building Supervison's salary-plant Supplies-plant Supplies-administrative office Work-in-process inventory, beginning Work-in-process inventory, ending Sales representatives salaries Sales revenue S 153,80 76, 280 323,000 47,100 19,888 22,500 425,808 524,800 275,880 55,680 44,288 33,800 23,200 37,500 98,900 132,680 78,900 32,500 40, 280 326,500 2,947,000 Required Prepare a statement of cost of goods manufactured and an income statement for Fair Wind Yachts for the year ended December 31