Problem 1 Consider the following data: Cost of goods sold Direct labor Direct materials used Cost of goods manufactured Work in process ending Finished goods ending Actual overhead Sales Selling expenses Administrative expenses OH applied at 180% of DMS. $710 $200 $150 $800 $100 $150 $260 $990 $100 $50 Show all computations. a) Prepare a schedule of COGM using OH applied. b) Prepare a schedule of COGS. c) Prepare an Income Statement.

Problem 1 Consider the following data: CostofgoodssoldDirectlaborDirectmaterialsusedCostofgoodsmanufacturedWorkinprocessendingFinishedgoodsendingActualoverheadSalesSellingexpensesAdministrativeexpenses$710$200$150$800$100$150$260$990$100$50 OH applied at 180% of DM\$ . Show all computations. a) Prepare a schedule of COGM using OH applied. b) Prepare a schedule of COGS. c) Prepare an Income Statement