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Orlando Manufacturing had the following data for the period just ended: Work in Process, Jan 1 $ 15,000 Work in process, Dec 31 30,000 Finished
Orlando Manufacturing had the following data for the period just ended: Work in Process, Jan 1 $ 15,000 Work in process, Dec 31 30,000 Finished Goods, Jan 1 60,000 Finished Goods, Dec 31 65,000 Direct Materials used 120,000 Direct Labor 220,000 Factory Depreciation 68,000 Sales 950,000 Selling and Gen & Admin Exp 198,000 Factory Utilities 25,000 Indirect Materials 19,000 Indirect Labor 33,000 Income Tax rate= 40% Required: A. Calculate Orlando's Cost of Goods Manufactured B. Calculate Orlando's Cost of Goods Sold C. Prepare an Income Statement
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