Direct Materials Less: Indirect Materials Direct Manufacturing Labor Manufacturing Overhead Manufacturing Overhead Total Total Manufacturing Costs Part B: Prepare a Schedule of Cost of Goods Sold Millworks Company Schedule of Cost of Goods Sold Period Ending December 31, 2018 Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold Part C: Prepare an Income Statement Millworks Company Income Statement Period Ended 12/31/2018 Selling and Administrative Expenses Total Selling and Administrative Costs Millworks provided the following information for 2018: Description Cost Sandpaper S 32,000 Materials handling $ 320,000 Coolants and lubricants $ 22,400 Indirect manufacturing labor S 275,200 Direct manufacturing labor $ 2,176,000 Direct materials 1/1/18 S 348,000 Direct materials 12/31/18 S 280,000 Finished goods 1/1/18 S 672,000 Finished goods 12/31/18 $ 1,280,000 Work-in-Process 1/1/18 S 96,000 Work-in-Process 12/31/18 S 64.000 Leasing costs - plant S 384,000 Leasing costs - admin building S 175,000 Depreciation - plant equipment S 224,000 Depreciation - sales equipment S 120,000 Property taxes - plant equipment S 32.000 Fire insurance - plant equipment S 16,000 Direct materials purchases $ 3,140,000 Sales revenue $ 12.800,000 Sales commissions S 640,000 Sales salaries S 576,000 Advertising costs S 480,000 Administration Costs S 800.000 Actual Manufacturing OH $ 1,475,000 Units Manufactured 100,000