Instructions The following information is available for Robstown Corporation for 20Y8: Inventories January 1 December 31 Materials $44,250 $31,700 Work in process 63,900 80,000 Finished goods 101,200 99,800 December 31 Advertising expense Depreciation expense-office equipment $400,000 30,000 Depreciation expense-factory equipment 80,000 Direct labor 1,100,000 Heat, light, and power-factory 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 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. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. b. Prepare the 20Y8 income statement. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive. ment of Cost of Goods Manufactured In Labels and Amount Descriptions b. ch sh Q Labels For the Year Ended December 31, 20Y8 For the Month Ended December 31, 20Y8 Amount Descriptions Advertising expense Cost of direct materials used in production 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 negative numbers ( Po Labels and Amount Descriptions X Labels For the Year Ended December 31, 20Y8 For the Month Ended December 31, 20Y8 Amount Descriptions Advertising expense Cost of direct materials used in production 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, 2018 Finished goods inventory, January 1, 20Y8 Gross profit plete the sa ries. For thos ading. Refer m positive numb uld be positive. Labels and Amount Descriptions 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 Purchases Property taxes-factory Property taxes-office building Rent expense-factory Supplies-factory Sales Sales salaries expense Total manufacturing costs incurred in 20Y8 Total factory overhead pp ries adi pos uld b Total factory overhead Total manufacturing costs Total operating expenses Work in process inventory, December 31, 20Y8 Work in process inventory, January 1, 20Y8 Statement of Cost of Goods Manufactured Shaded cells have feedback a. Prepare the 20Y8 statement of cost of goods manufactured Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign 1 Direct materials: Factory overhead Robstown Corporation Statement of Cost of Goods Manufactured For the Year Ended December 31, 2018 Score: 2/192 red and income statement for a manufacturing company Instructions Labels and Amount Descriptions Statement of Cost of Goods Manufactured Statement of Cost of Goods Manufactured 10 11 12 11 13 Factory overhead 14 Check My Work Shaded cells have feedback Port 1041/30 Income Statement Shaded cells have feedback Shaded cells have feedback.X b. Prepare the 2018 income statement. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive Question not attempted. 1 Cost of goods sold: Robstown Corporation Income Statement (Label) Score: 0/150 Income Statement 7 8 Operating expenses: 10 Administrative expenses: 11 12 13 14 Selling expenses: 15 16 17 18 Sha Shaded cam Points