hapter 16 HW 5 Dints eBook Saved Exercise 16.10 (Static) Preparing an Income Statement Using the Cost of Finished Goods Manufactured (LO16-4, LO16-6) Randolph Company reports the following information pertaining to its operating activities. Materials Inventory Print Work in Process Inventory Finished Goods Inventory References W Ending Balance $ 70,000 41,000 16,000 Beginning Balance $ 60,000 79,000 21,000 During the year, the company purchased $135,000 of direct materials and incurred $22.000 of direct labor costs. Total manufacturing overhead costs for the year amounted to $19,000. Selling and administrative expenses amounted to $30,000, and the company's annual sales amounted to $280,000. a. Prepare Randolph's schedule of the cost of finished goods manufactured. b. Prepare Randolph's income statement (ignore income taxes). Complete this question by entering your answers in the tabs below. Required A Required B Prepare Randolph's schedule of the cost of finished goods manufactured. RANDOLPH COMPANY Schedule of the Cost of Finished Goods Manufactured Search < Prev 5 of 5 Next >