Following is information from the records of the Savoy Company for July.

Purchases

Raw materials $$180,000$

Manufacturing supplies $3,000$

Office supplies $1,200$

Sales $700,200$

Administrative salaries $55,200$

Direct labor $126,000$

Production employees$$ fringe benefits$*12,600$

Sales salaries and commissions $54,000$

Production supervisors$$ salaries $12,000$

Plant depreciation $14,400$

Office depreciation $3,600$

Plant maintenance $9,600$

Plant utilities $9,000$

Office utilities $3,000$

Office maintenance $5,040$

Production equipment rent $4,800$

Office equipment rent $1,200$

$*$Classified as manufacturing overhead

Inventories July $1$ July $31$

Raw materials $$30,000$ $$33,600$

Manufacturing supplies $4,8004,200$

Office supplies $1,8001,200$

Work$-$in$-$process $21,60018,000$

Finished goods $108,540106,320$

Required

Prepare a statement of cost of goods manufactured and an income statement. Actual overhead costs are assigned to products.

Note: Do not use any negative signs in your statements

Savoy Company

Statement of Cost of Goods Manufactured

For the Month of July

Current manufacturing costs:

Cost of materials placed in production:

Raw materials, $7/1$ Answer $1$

$0$

Answer $2$

Answer $3$

$0$

Total available Answer $4$

$0$

Answer $5$

Answer $6$

$0$

Answer $7$

$0$

Direct labor Answer $8$

$0$

Manufacturing overhead:

Answer $9$

Answer $10$

$0$

Production employees$$ fringe benefits Answer $11$

$0$

Depreciation on plant Answer $12$

$0$

Production supervisors' salaries Answer $13$

$0$

Plant maintenance Answer $14$

$0$

Plant utilities Answer $15$

$0$

Production equipment rent Answer $16$

$0$

Answer $17$

$0$

Work$-$in$-$process, $7/1$ Answer $18$

$0$

Answer $19$

Answer $20$

$0$

Less: work$-$in$-$process, $7/31$ Answer $21$

$0$

Answer $22$

Answer $23$

$0$

SAVOY Company

Income Statement

For the Month Ending July $31$

Answer $24$

Answer $25$

$0$

Cost of goods sold:

Finished goods inventory, $7/1$ Answer $26$

$0$

Answer $27$

Answer $28$

$0$

Total goods available for sale Answer $29$

$0$

Answer $30$

Answer $31$

$0$

Answer $32$

$0$

Answer $33$

Answer $34$

$0$

Selling and administrative expenses:

Answer $35$

Answer $36$

$0$

Administrative salaries Answer $37$

$0$

Sales salaries and commissions Answer $38$

$0$

Answer $39$

$3,600$

Office utilities Answer $40$

$0$

Office maintenance Answer $41$

$0$

Office equipment rent Answer $42$

$0$

Answer $43$

$0$

Answer $44$

Answer $45$

$0$