Instructions at top of picture, please help!

nes they start with OB W B D E F G H K M Instructions: Using the information below, and adapting the template to the right as needed, prepare: * A Cost of Goods Manufactured Statement for Lake Lure Yachts, Inc. For the year ended December 31 - An Income Statement for Lake Lure Yachts, Inc. (your Cost of Goods Schedule will be embedded in the Income Statement) HINT: The table below should be used as an assumption table for the statements, so you might want to copy the table onto your new tab. Practice Note: You will see variations in CGM Consider the following information for Lake Lure Yachts, Inc., a schedules. Sometimes they start with OB WIP and manufacturer of sailboat rigging, blocks, and cordage. then calculate the DM Used, sometimes they start 0 with the DM calculations. Pay special attention to Advertising expenses $ the difference between the two types of 150,000 2 Depreciation expense - administrative office Manufacturing costs...the NEW ones for this period 75,000 (new DM, DL, and PHD this period only) and the 3 Depreciation expense - plant and equipment 320,000 total Manufacturing Costs to account for (which add 4 Depreciation expense - delivery trucks 45,000 the OB in WIP) -- and be careful about the 5 Materials Inventory, Jan 1 16,000 difference between manufacturing overhead and 6 Materials Inventory, Dec 31 18,000 manufacturing costs! Under Manufacturing 7 Direct materials purchases 410,000 Overhead, list the individual items -- this makes it 18 Direct labor 512,000 easier to correct errors. Also, please note for later 19 Indirect labor 269,000 that the MOHD in the CGM schedule will be applied R0 Finished Goods Inventory, Jan 1 55,000 overhead, which we will adjust on the income 21 Finished Goods inventory, Dec 31 statement so it ends up being actual overhead. 43,000 We'll talk more about this in the next chapter and 22 Insurance on plant 32,000 you don't have to worry about it for now..just make 23 Heat and light for plant 22,000 a mental notel 24 Repairs on plant building 36,000 25 Supervisor's salary-plant 98,000 26 Supplies . plant 132,000 27 Supplies - administrative office 78,000 28 Work-In-Process Inventory, Jan 1 31,000 29 Work-In-Process Inventory, Dec 31 39,000 Excel Skills: Formatting, Cell Referencing. Basic 30 Sales representatives' salaries 325,000 Formulas, General Model Development, Use of 31 Sales revenue 2,885,000 Assumption Tables