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 $ 13,170 Work-in-process inventory, December 31 28,110 Finished goods inventory, January 1 113,390 Finished goods inventory, December 31 85,370 Direct materials inventory, January 1 3,650 Direct materials inventory, December 31 2,770 Direct materials purchased 183,700 Direct labor 138,430 Plant depreciation 19,750 Salary, production supervisor 46,580 Indirect labor 68,280 Utilities, factory 15,750 Sales commissions 42,310 Salary, sales supervisor 75,010 Depreciation, factory equipment 32,350 Administrative expenses 168,290 Supplies (40% used in the factory, 60% used in the sales office) 17,960 Advertising expense 43,810 Last year, Orman produced 89,160 units and sold 90,760 units at $11.00 per unit. 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: 000 00 pillid Total manufacturing costs added puodu Cost of goods manufactured 2. Prepare an absorption-costing income statement. Orman Company Income Statement: Absorption Costing For Last Year Cost of goods sold: Less operating expenses