Income Statement, Cour of Goods Manufactured Spence Company produced 200,000 cases of sports drinks during the past calendar year. Each case of 1-liter bottles sells for $36. Spencer had 2.500 cases of sports drinks in finished goods inventory at the beginning of the year. At the end of the year, there were 11.500 cases of sports drinks in finished goods inventory. Spencer's accounting records provide the following information Durchases of direct materials $2.340,000 Direct materials inventory, January 1 290.000 Direct materials inventory, December 31 116.000 Direct labor 1.100.000 334,000 525,000 Indirect labor Depreciation factory building Depreciation factory equipment Property taxes on factory Utilities factory 415.000 65.000 150.000 Insurance on factory 200.000 Salary tales supervisor Cons salespersons 85.000 214.000 500.000 390,000 General administration Wenn-process inventory, January 1 process inventory December 31 440.000 750.000 107.500 . 488.750 Feetgoedsinventory, December 3! Required: Next Save and Required: 1. Prepare a cost of goods manufactured statement. Spencer Company Statement of Cost of Goods Manufactured For the Year Ended December 31 Direct materials: S $ s Manufacturing overhead: Total manufacturing costs added Cost of goods manufactured 2. Compute the cost of producing one case of sports drink last year. If required, round your answer to the nearest cent per case 3. Prepare an income statement on an absorption-costing basis. Show the percentage of sales that each line item represents. Round the percent to four decimal places before converting to a percentage. For example..88349 would be rounded to.8895 and entered as 88.35. Spencer Company Income Statementi Absorption Costing For the Year Ended December 31 Percent Cost of goods sold: Less: Operating expenses Ched. My Work 2 more Check My Work uses ang