Given the following selected account balances of Sunny Manufacturing, prepare (a) its schedule of cost of goods manufactured and (b) its income statement for the year ended December 31.

Sales

$ 2,500,000

Raw materials inventory, beginning 74,000

Work in process inventory, beginning 107,800

Finished goods inventory, beginning 125,500

Raw materials purchases

351,200

Direct labor

450,000

Indirect labor

94,000

Repairs - Factory equipment

46,180

Rent cost of factory building

114.000

Selling expenses

188,000

General and administrative expenses 258,600

Raw materials inventory, ending 85,400

Work in process inventory, ending 83,000

Finished goods inventory, ending

134,600

Please answer both parts of the question for a good review, thanks!

Given the following selected account balances of Sunny Manufacturing. prepare (a) its schedule of cost of goods manufactured and (b) its income statement for the year ended December 31