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Managerial Accounting. I need help solving this step by step 1. Calculate the Cost of goods manufactured Work in process inventory, January 1, 2010 Materials

Managerial Accounting. I need help solving this step by step

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1. Calculate the Cost of goods manufactured Work in process inventory, January 1, 2010 Materials inventory, January 1, 2010 Purchases Materials inventory, December 31, 2010 Direct labor Indirect labor Depreciation on factory equipment Factory supplies and utility costs Work in process inventory, December 31, 2010 60,000 24,000 144,000 36,000 120,000 15,000 20,000 25,000 42,000 500000 80000 2. Calculate Net Income Sales Finished goods inventory, January 1, 2010 Cost of goods manufactured Finished goods inventory, December 31, 2010 Selling expenses Administrative expenses 55000 18000 24000

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