Part $2$

The following information is available for Sassafras Corporation:

balance

Jan. $1,2023$ during $2023$

balance

Dec. $31,2023$

Raw materials inventory $...........................$ $ $21,000$ $ $30,000$

Work in process inventory $........................$ $ $13,500$ $ $17,200$

Finished goods inventory $..........................$ $ $27,000$ $ $21,000$

Administrative salaries and benefits $.........$ $ $132,000$

Materials purchased.................................. $ $150,000$

Direct labour.............................................. $ $220,000$

Manufacturing overhead........................... $ $180,000$

Sales........................................................... $ $910,000$

Other selling costs $.....................................$ $ $23,000$

Requirements:

$1.$ Prepare a schedule of the cost of goods manufactured for $2023.$

$2.$ Prepare a schedule of cost of goods sold for $2023.$

$3.$ Prepare an income statement for $2023.$

AFM $123/$ ARBUS $102$ Accounting Information for Managers page $3$ of $3$