PART 1

The following data (in thousands of dollars) have been taken from the accounting

records of Cat Corporation for the year ended March 31st, 2021:

Sales $1,650

Purchases of raw materials $475

Direct labour $250

Glue $20

Wages of factory security guard $40

Depreciation of equipment used in production $50

Administrative expenses $250

Marketing campaign for cat dishes $100

Sales commissions for sales team $75

Shipping expense for finished goods $30

Raw materials inventory, beginning $140

Raw materials inventory, ending $110

Work in process inventory, beginning $70

Work in process inventory, ending $60

Finished goods inventory, beginning $150

Finished goods inventory, ending $80

(a.) do a formal schedule of cost of goods manufactured (i.e. in good form).

(b.) Compute the cost of goods sold.

(c.) Using data from your answers above as needed, prepare a traditional income

statement in good form.

PART 2

Select a real-world manufacturing company. Identify one example for each of the

following types of costs for this company:

1) Direct material

2) Indirect material

3) Direct labour

4) Indirect labour

5) Manufacturing overhead

6) Period

7) Variable

8) Fixed

9) Differential

10) Opportunity

11) Sunk

12) Inventoriable (product)

In your assignment submission, you must state which manufacturing company

you chose and what product (or products) they are manufacturing. For each

example provided you must briefly explain why you believe it represents that type

of cost.