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 Work-in-process inventory, December 31 Finished goods inventory, January 1 $ 13,280 28,290 112,300 Finished goods inventory, December 31 84,660 Direct materials inventory, January 1 3,540 Direct materials inventory, December 31 2,590 Direct materials purchased 183,910 Direct labor 139,250 Plant depreciation Salary, production supervisor Indirect labor Utilities, factory Sales commissions 19,970 47,030 68,030 15,810 42,050 Salary, sales supervisor 75,360 Depreciation, factory equipment 32,030 Administrative expenses 168,000 Supplies (40% used in the factory, 60% used in the sales 18,240 office) Advertising expense 43,500 Last year, Orman produced 88,930 units and sold 90,440 units at $10.80 per unit. Required: 1. Prepare a statement of cost of goods manufactured. Orman Company Statement of Cost of Goods Manufactured For Last Year