Following are the account balances for the DC Company in 2018:

	Beginning of 2018	Ending of 2018
Direct materials inventory	26,500	27,000
Work-in-process inventory	30,500	28,400
Finished-goods inventory	16,500	22,100
Purchases of direct materials		79,000
Direct manufacturing labor		24,500
Indirect manufacturing labor		18,600
Plant insurance		7,900
Depreciation-plant, building, and equipment		11,800
Repairs and maintenance-plant		3,500
Marketing, distribution, and customer-service costs		87,900
General and administrative costs		26,500

Required:

1) Prepare a schedule for the cost of goods manufactured for 2018. (16 marks)

2) Revenues for 2018 was $425,000. Prepare the income statement for 2018. (22 marks)