eBook Calculator Print Item Income Statement, Cost of Goods Manufactured Spencer Company produced 200,000 cases of sports drinks during the past calendar year. Each case of 1-liter bottles sells for $37. Spencer had 2,500 cases of sports drinks in finished goods inventory at the beginning of the year. At the end of the year, there were 11,500 cases of sports drinks in finished goods inventory. Spencer's accounting records provide the following information Purchases of direct materials Direct materials inventory, January1 Direct materials inventory, December 31 Direct labor Indirect labor Depreciation, factory building Depreciation, factory equipment Property taxes on factory Utilities, factory $2,360,000 290,000 110,000 1,100,000 334,000 525,000 416,000 55,000 150,000 200,000 85,000 214,000 500,000 90,000 K) Insurance on factory Salary, sales supervisor Commissions, salespersons General administration Pre Chock Hy Work 3 more Check My work uses remaining eBook Work-in-process inventory, January 1 Work-in-process inventory, December 31 Finished goods inventory, January 1 Finished goods inventory, December 31 Required 1. Prepare a cost of goods manufactured statement. Print Item 460,000 750,000 107,500 488,750 Spencer Company Statement of Cost of Goods Manufactured For the Year Ended December 31 Direct materials: Manufacturing overhead Previous Check My Work 3 more Chack My Work uses remaining 0:20 P eBook Calculator Print Item Manufacturing overhead Total manufacturing costs added Cost of goods manufactured 2. Compute the cost of producing one case of sports drink last year. If required, round your answer to the nearest cent. per case Check My Work 3 more Check My Work uses remaining eBook Calculator Print item 3. Prepare an income statement on an absorption-costing basis. Show the percentage of sales that each line item represents. Round the percent to four decimal places before converting to a percentage. For example, .88349 would be rounded to .8835 and entered as 88.35. Spencer Company Income Statement: Absorption Costing For the Year Ended December 31 Percent Cost of goods sold: Less: Operating expenses Previou Check My Work 3 more Check My Work uses remaining