Prepare a cost of goods manufactured and sold statement and an income statement.

San Ysidro Company manufactures hiking equipment. The company's administrative and manufacturing operations share the company's only building. Eighty percent of the building is used for manufacturing and the remainder is used for administrative activities. Indirect labor is 8 percent of direct labor. The cost accountant at San Ysidro has compiled the following information for the year ended December 31: $ Administrative salaries Attorney fees to settle zoning dispute Building depreciation (manufacturing portion only) Cost of goods manufactured Direct materials inventory, December 31 Direct materials purchased during the year Direct materials used Distribution costs Finished goods inventory, January 1 Finished goods inventory, December 31 Insurance (on plant machinery) Maintenance (on plant machinery) Marketing costs Other plant costs Plant utilities Sales revenue Taxes on manufacturing property Total (direct and indirect) labor Work-in-process inventory, January 1 Work-in-process inventory, December 31 175,900 27,200 229,700 3,411,900 300,100 1,217,000 1,334,000 5,200 279,000 311,000 66,300 43,600 129,900 110,000 131,800 5,638,500 48,000 1,447,200 88,500 87,200 SAN YSIDRO COMPANY Cost of Goods Manufactured and Sold Statement For the Year Ending December 31 Manufacturing costs: Direct materials: Manufacturing overhead: Total overhead Total manufacturing costs Total cost of work-in-process during the year Costs of goods manufactured this year Cost of goods available for sale Cost of goods sold SAN YSIDRO COMPANY Income Statement For the Year Ended December 31 Total operating costs