Cost of Goods Manufactured, Income Statement

Orman Company produces neon-colored covers for tablets (e.g., iPads). For last year, Orman reported the following:

Work-in-process inventory, January 1 $ 13,260 Work-in-process inventory, December 31 28,290 Finished goods inventory, January 1 113,080 Finished goods inventory, December 31 85,180 Direct materials inventory, January 1 3,200 Direct materials inventory, December 31 2,630 Direct materials purchased 184,010 Direct labor 139,160 Plant depreciation 19,900 Salary, production supervisor 46,660 Indirect labor 68,400 Utilities, factory 15,720 Sales commissions 42,330 Salary, sales supervisor 75,110 Depreciation, factory equipment 32,450 Administrative expenses 168,170 Supplies (40% used in the factory, 60% used in the sales office) 18,130 Advertising expense 43,210 Last year, Orman produced 88,520 units and sold 90,670 units at $10.80 per unit.

Required:

1. Prepare a statement of cost of goods manufactured.