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 $ 13,180 Work-in-process inventory, December 31 28,370 Finished goods inventory, January 1 113,960 Finished goods inventory, December 31 84,580 Direct materials inventory, January 1 3,600 Direct materials inventory, December 31 2,820 Direct materials purchased 183,860 Direct labor 137,940 Plant depreciation 19,760 Salary, production supervisor 47,280 Indirect labor 68,410 Utilities, factory 15,600 Sales commissions 41,730 Salary, sales supervisor 75,480 Depreciation, factory equipment 31,770 Administrative expenses 168,230 Supplies (40% used in the factory, 60% used in the sales office) 18,250 Advertising expense 43,710 Last year, Orman produced 89,190 units and sold 90,860 units at $10.70 per unit. Required: 1. Prepare a statement of cost of goods manufactured. Orman Company Statement of Cost of Goods Manufactured For Last Year Direct materials: Direct materials used in production Manufacturing overhead: Total manufacturing costs added Cost of goods manufactured 2. Prepare an absorption-costing income statement Orman Company Income Statement: Absorption Costing For Last Year Cost of goods sold: ounts f.. vorkath +... My Home Assignme... Accounts f... 60 ATK 88.. (no email s. Calculator Manufacturing overhead: Beginning inventory Beginning work in process Cost of goods manufactured Direct labor Ending inventory Ending work in process Plant depreciation Purchases 2. Prepare an absorption-costing income statement. Orman Company Income Statement: Absorption Costing For Last Year Cost of goods sold: Less operating expenses