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enoffourdeal nigo I Howhot Managerial Accounting Excel Computer Problems Form A Chapter 2 WeTi- The following data refer to Kaleidoscope Company for the year 20x0: Sales revenue . ....... $1,000,000 Work-in-process inventory, December 31 . . 50,000 Work-in-process inventory, January 1 .. 40,000 Selling and administrative expenses 150,000 Income tax expense ...... 90,000 Purchases of raw material . ..... 180,000 Raw-material inventory, December 31 25,000 Raw-material inventory, January 1 40,000 Direct labor . .... 200,000 Utilities: plant . ..... 40,000 Depreciation: plant and equipment . 60,000 Finished-goods inventory, December 31. .. 50,000 Finished-goods inventory, January 1 . . 20,000 Indirect material . ..... 10,000 Indirect labor ....... 15,000 Other manufacturing overhead . 80,000 Required: 1. Prepare the schedule of cost of goods manufactured for the year. 2. Prepare the schedule of cost of goods sold for the year. 3. Prepare the income statement for the year