During 2022, Harry Styles Souvenirs purchased raw materials costing $224,000 and used $218,000 of those raw materials in production. Total direct labor costs amounted to $187,500. Overhead applied to work in process was $98,000, but actual overhead costs totaled $102,600. During the year, Harry Styles Souvenirs completed products costing a total of $511,000. Their total selling and administrative expenses for the year were $98,000. Product sales were $714,000 for goods costing $510,000 to produce. All transactions were in cash.

a. Using this information, prepare a schedule of cost of goods manufactured and sold for Harry Styles Souvenirs for Year 2022. You may abbreviate (e.g., DM for direct materials).

b. Using this information, prepare Harry Styles Souvenirs' income statement for Year 2022. You may abbreviate (e.g., DM for direct materials).

At the end of their fiscal year 2022, Harry Styles Souvenirs had the following balances listed on its balance sheet During 2022, Harry Styles Souvenirs purchased raw materials costing $224,000 and used $218,000 of those raw materie $98,000, but actual overhead costs totaled $102,600 During the year, Harry Styles Souvenirs completed products costin were $714,000 for goods costing $510,000 to produce. All transactions were in cash a. Using this information, prepare a schedule of cost of goods manufactured and sold for Harry Styles Souvenirs for Year b. Using this information, prepare Harry Styles Souvenirs' income statement for Year 2022. You may abbreviate (e.g., DM For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac)