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Please help me solve the requirements below. Lisa's Ladders manufactures steel and wooden ladders for industrial and home use. You were hired as a management

Please help me solve the requirements below. image text in transcribed
Lisa's Ladders manufactures steel and wooden ladders for industrial and home use. You were hired as a management accounting consultant by Lisa and have been provided with the following information for the most recent year end: Cost incurred: Advertising expense $42.000 Raw Materials used $ 124,000 Head office depreciation $12,000 Indirect Materials $31,500 Research cost for new products $15,000 Insurance on production equipment $5,500 Direct Labour $26,000 Rent on production facility $30,000 Cost of land purchased $225,000 Indirect labour $15,000 Inventory Level Raw Materials WIP Finished goods Beginning of Year $41,000 $8,000 $22,000 End of Year S61,000 $4,000 $26.000 Requirements a) Prepare a statement of cost of good manufactured (10 marks) b) Assume total sales for the year is $285,000, prepare an income statement (with Cost of good sold & period costs included) (7 marks)

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