Foxwood Company is a metal and woodcutting manufacturer,selling products to the home construction market.Consider the following data for 2018:

Sandpaper $2,000

Materials-handling costs 70,000

Lubricants and coolants 5,000 Miscellaneous indirect manufacturing labour 40,000

Direct manufacturing labour 300,000

Direct materials inventory 1 Jan 2018 40,000

Direct materials inventory 31 Dec 2018 50,000

Work in process inventory 1 Jan 2018 10,000

Work in process inventory 31 Dec 2018 14,000

Plant leasing costs 54,000

Depreciation- Plant equipment 36,000

Insurance on plant equipment 3,000

Direct meterial purchased 460,000

Sales revenues 1,360,000

Marketing promotions 60,000

Marketing salaries 100,000

Distribution costs 70,000

Customer service costs 100,000

Required

1) Prepare a schedule of cost of goods manufactured. (6 marks)

2) Prepare a schedule of costs of goods sold. (2 marks)

3) Prepare an income statement.(4 marks)