Lisa's Ladders manufactures steel and wooden ladders for industrial and home use. You were hired as a management accounting consultant by Lisa and have been provided with the following information for the most recent year end: Cost incurred: Advertising expense Raw Materials used Head office depreciation Indirect Materials Research cost for new products Insurance on production equipment Direct Labour Rent on production facility Cost of land purchased Indirect labour $42,000 $124,000 $12,000 $31,500 $15,000 $5,500 $26,000 $30,000 $225,000 $15,000 Inventory Level Raw Materials WIP Finished goods Beginning of Year $41,000 $8,000 $22,000 End of Year $61,000 $4,000 $26,000 Requirements a) Prepare a statement of cost of good manufactured (10 marks) b) Assume total sales for the year is $285,000, prepare an income statement (with Cost of good sold & period costs included) (7 marks)