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 $ 400,000 30,000 Depreciation expense-office equipment Depreciation expense-factory equipment 80,000 Direct labor 1,100,000 Heat, light, and power-factory 53,300 Indirect labor 115,000 556,600 Materials purchased Office salaries expense Property taxes-factory 318.000 40,000 Property taxes-office building 25,000 Rent expense-factory 27,000 Sales 3,850,000 200,000 Sales salaries expense 9,500 Supplies-factory Miscellaneous costs-factory 11,400 Required: A. Prepare the 20Y8 statement of cost of goods manufactured. B. Prepare the 2048 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. Labels and Amount Descriptions Labels For the Year Ended December 31, 20Y8 For the Month Ended December 31 At Year Ended December 31, 2048 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, 2048 Finished goods inventory, January 1, 2048 Gross profit Heat, light, and power-factory Indirect labor Materials inventory, December 31, 2048 Materials inventory, January 1, 2048 Miscellaneous costs-factory Net income Office salaries expense Office salaries expense Property taxes-factory Property taxes-office building Purchases Rent expense-factory Sales Sales salaries expense Supplies-factory Total manufacturing costs incurred Total operating expenses Work in process inventory, December 31, 20Y8 Work in process inventory, January 1, 2048 A. Prepare the 2018 statement of cost of goods manufactured. 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 Robstown Corporation Statement of Cost of Goods Manufactured (Label) 1 2 Direct materials: 3 4 5 6 - Factory overhead 10 18 13 14 15 16 Factory overhead: 10 11 12 13 34 15 16 17 Total factory overhead 10 19 Total manufacturing costs 20 21 The Robstown Corporation Income Statement (Label) 2 Cost of goods sold: 3 4 5 6 7 8 9 Operating expenses: 10 Administrative expenses: 11 12 13 14 Selling expenses: 15 16 17 18