PepsiCo, Inc. provided the following data for the fiscal year 2023:

Cost Component	Amount ($)
Direct Materials Used	11,000,000
Direct Labor	6,500,000
Manufacturing Overhead	6,000,000
Selling Expenses	3,500,000
Administrative Expenses	2,800,000
Beginning Work in Process	800,000
Ending Work in Process	900,000
Beginning Finished Goods	3,200,000
Ending Finished Goods	3,300,000
Sales Revenue	90,000,000

Requirements:

1. Calculate the total manufacturing cost.
2. Determine the cost of goods manufactured.
3. Compute the cost of goods sold.
4. Prepare an income statement for the year 2023.