Cost Accounting exam Manufacturing cost/income statement. You are given the following information for a company and it appears to have number of missing values. Also must prepare journal entries for year ending, and a income statement

Manufacturing costs/income statement You are given the following information for a company and it appears to have a number of missing values. For the Year ending December 31, 2014 Beginning direct materials inventory: $100 Purchases of direct materials: ($A) Ending direct materials: $68 Direct materials used: $180 Direct labor: ($B) Manufacturing overhead: $230 Total manufacturing costs added this period: ($C) Beginning WIP inventory: $73 Ending WIP inventory:$ 44 Cost of Goods Manufactured: $775 Beginning FG inventory: $ 74 Ending FG inventory: ($D) Cost of goods sold: $750 Net Sales: $1,200 Selling and administrative expenses: $270 Net income: ($E) For the Year ending December 31, 2015 Beginning direct materials inventory: ($F) Purchases of direct materials: $120 Ending direct materials: $90 Direct materials used: $98 Direct labor: $300 Manufacturing overhead: ($G) Total manufacturing costs added this period: $690 Beginning WIP inventory: ($H) Ending WIP inventory: $ 60 Cost of Goods Manufactured: ($I) Beginning FG inventory: ($J) Ending FG inventory: ($K) Cost of goods sold: $650 Net Sales: $1,000 Selling and administrative expenses: ($L) Net income: $110 Required: 1. Determine the correct amounts for A through L. A. G. B. H. C. I. D. J. E. K. F. L. 2. Prepare the following journal entries for the year ending December 31, 2015 a. Purchase of direct materials (amount calculated in Part F.) b. Direct labor used in production ($300) c. Cost of goods manufactured (amount calculated in Part I.) d. Sale and Cost of goods sold (Sales 1,000 and COGS $650). 3. Prepare an income statement for the year ending December 31, 2015