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Crane Company is a manufacturer of smart phones. Its controler resigned in October 2020. An inesperienced assistant accountant has prepared the following income statement for

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Crane Company is a manufacturer of smart phones. Its controler resigned in October 2020. An inesperienced assistant accountant has prepared the following income statement for the month of October 2020 . Prior to October 2020, the company had been proftable every month The company s president is concerned about the accuracy of the income statement: As her friend, you have been asked to review the income statement and mahn necessary corrections. After exsmining other manufacturine cost data, you have acquired additional information as follows. 1. Inventory balances at the beginning and end of October were: 2. Only 75% of the utilities expense and 60% of the insurance expense apply to factory operations. The remaining amounts should be charged to melling and administrative activities. (a) Prepare a scheduie of cont of goods manufactured for October 2020

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