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Northern Illinois Manufacturing provides products and services needed to irrigate farms, parks, commercial products, and private homes. It has a centrally located factory that manufactures

Northern Illinois Manufacturing provides products and services needed to irrigate farms, parks, commercial products, and private homes. It has a centrally located factory that manufactures the products it markets to retail outlets across the nation. The month of November has just ended and Northern Illinois needs to generate a cost of goods manufactured and cost of goods sold for its income statement. The application of overhead is based on direct labor hours. At the beginning of the year, the company estimated direct labor hours of 42,000 and total estimated overhead of $2,142,000. During the month of November, the number of direct labor hours was 3,300. The following additional data for November is provided:

Indirect Materials in Manufacturing Overhead

$ 17,500

Advertising Expense

52,000

Depreciation Factory Equipment

17,500

Depreciation Office Equipment

2,900

Direct Labor

44,000

Factory Supplies

16,300

Factory Utilities

10,500

Finished Goods Inventory November 30

71,800

Finished Goods Inventory October 31

73,500

Indirect Labor

45,000

Office Supplies Expense

1,900

Other Administrative Expenses

71,000

Raw Materials Inventory November 30

53,000

Raw Materials Inventory October 31

41,000

Raw Materials Purchases

186,500

Rent Factory Equipment

45,000

Repairs Factory Equipment

5,400

Salaries

335,000

Sales

1,425,000

Sales Commissions

42,750

Work In Process Inventory November 30

44,000

Work In Process Inventory October 31

51,000

Property Tax on Factory

5,500

Instructions:

From the above information, prepare a cost of goods manufactured schedule, cost of goods sold schedule, and an income statement to the net operating income.

Please complete in microsoft excel.

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