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Mainly needing help with part 3 Prepare the Statement of Cost of Goods Manufactured and Income statement with the Cost of Goods sold. Company Name

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Mainly needing help with part 3

Prepare the Statement of Cost of Goods Manufactured and Income statement with the Cost of Goods sold. Company Name Statement of Cost of Goods Manufactured For Last Year Part 2 Average cost of One Unit Part 3 Company Name Income Statement For Last Year Produced 5000 chairs Sell for $2 per chair Beg. FG is 200 chairs Ending FG 100 chairs Purchase of Materials $2,000 Beg. Materials Inv. $400 Ending Materials Inv. $200 DL 4.800 Indirect Labor S500 Rent on Factory E $1,000 Dep. On Factory equipment E $100 Utilities for factory $400 Salary of sales Supervisor $300 Commission of Salespersons $100 General Administration Exp 300 Beg. WIP 1.200 Ending WIP $1,400 Beg. F.G. 3 $352 Ending F.G. 176

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