Income Statement, Cost of Goods Manufactured

Jordan Comparry produxed $150,000$ floor lamps during the past calcadar year. Joctan had

$2,500$ Acor lamps in fixished goods inventory at the beginning of the year. Ar the end of

che year, there were $11,500$ Aloor lamps in finished goods inventory. The lamps sell for $$50$

each. Jocdan's accouating records provide the following information for the past year:

Purchases of direct materials

Direct materials inventory, Jamary $1$

Direct materials inventory, December $31$

Direct labor

Indirect laboe

Depreciation, factory bualfing

Depreciation, factory equipment

Property taxes on the factory

Utilities, factory

Insurance on the factory

Research and development

Salary, sales sapervisor

Commissions, salespersons

Gencral administration

Work in process inventory, Jantary $1$

Work in process inventory, December $31$

Finished goods inveatory, January $1$

Finished goods inventoey, Desember $31$

Required:

Prepare a cost of goots manufacrured statem$$nt$.$

Compute the cone of producing one Bocr lamp last ycar.

Prepare an incoene statement on an abociption$-$sosting basis.