Instructions Inventories December 31 January 1 Materials $44,250 $31,700 Work in process 63,900 80,000 101,200 Finished goods 99,800 December 31 $400,000 Advertising expense Depreciation expense-office equipment 30,000 Depreciation expense-tactory equipment 80,000 Direct labor 1,100,000 Heat, ight, and power-tactory 53,300 Indirect labor 115,000 Materials purchased 556,600 Office salaries expense 318,000 Property taxes-factory 40,000 Property taxes-office building 25,000 Rent expense-factory 27,000 Sales 3,850,000 Sales salaries expense 200,000 Supplies-factory 9,500 Miscellaneous costs-factory 11,400 Required: A Prepare the 20Y8 statement of cost of goods manufactured. B. Prepare the 20YS income statement "Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Less" or "Plus will automatically appear if it is required. Enter all amounts as positive numbers. Be sure to complete the statement heading Calculator Show Me How eBook Statement of cost of goods manufactured and income statement for a manufacturing company Labels and Amount Descriptions Income Instructions Statement of Cost of Goods Manufactured Labels and Amount Descriptions Labels For the Year Ended December 31, 20Y8 For the Month Ended December 31 At Year Ended December 31, 20Y8 Amount Descriptions Advertising expense Cost of direct materials used Cost of finished goods available for sale Cost of goods manufactured Cost of goods sold Cost of materials available for use Depreciation expense-factory equipment Depreciation expense-office equipment Direct labor Finished goods inventory, December 31, 20Y8 Finished goods inventory, January 1, 20Y8 Gross profit Heat, light, and power-factory Indirect labor Materials inventory, December 31, 20Y8 Materials inventory, January 1, 20Y8 Miscellaneous costs-factory Net income Office salaries expense Property taxes-factory Check My Work All work saved. Statement of cost of goods manufactured and income statement for a manufacturing ompany Statement of Cost of Goods Manufactured Labels and Amount Descriptions Instructions Labels and Amount Descriptions Cost of materials available for use Depreciation expense-factory equipment Depreciation expense-office equipment Direct labor Finished goods inventory, December 31, 20Y8 Finished goods inventory, January 1, 20YB Gross profit Heat, light, and power-factory Indirect labor Materials inventory, December 31, 20Y8 Materials inventory, January 1, 20Y8 Miscellaneous costs-factory Net income Office salaries expense Property taxes-factory Property taxes-office building Purchases Rent expense-factory Sales Sales salaries expense Supplies-factory Total manufacturing oosts incurred Total operating expenses Work in process inventory, December 31, 20Y8 Work in process inventory, January 1, 20Y8 Check My Work All work saved. Statement of Cost of Goods Manufactured Labe) 1 2 Direct materials: 3 4 7 Factory overhead: 10 11 12 13 14 15 Total factory overhead 17 18 19 Total manufacturing costs 20 21 16 Income Statement The Robstown Corporation Income Statement Labe 1 Cost of goods sold 2 3. 4 6 7 Operating expenses 10 Administrative expenses 11 12 13 14 Selling expenses 15 16 17 18