EX 19-13 Financial statements of a manufacturing firm Obj. 2 The following events took place for Focault Inc during July 2012, the first month of operations as a producer of road bikes: Purchased $320,000 of materials Used $275,000 of direct materials in production Incurred $236,000 of direct labor wages Apptiled factory overhead at a rate of 75% of direct labor cost Transferred 5652.000 of work in procent to finished goods Sold goods with a cost of $630,000 Sold goods for $1.120,000 Incurred $252,800 of selling expenses incurred $100,000 of administrative expenses Prepare the July income statement for Focault Assume that Focault uses the perpetual lovestory thod Check Fleure Tacome from operations. 5137200 Det the twentory balance at the red chest oth operations