Problem 19-04A a-c (Part Level Submission) (Video) The following data were taken from the records of Waterway Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 Raw Materials Inventory 6/30/20 Finished Goods Inventory 7/1/19 Finished Goods Inventory 6/30/20 Work in Process Inventory 7/1/19 Work in Process Inventory 6/30/20 Direct Labor Indirect Labor Accounts Receivable $51,100 46,000 98,200 26,100 26,800 22,300 147,750 26,560 27,100 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $4,700 19,000 29,100 9,350 564,000 4,700 65,600 9,810 1,600 97,500 35,600 (a) Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.) WATERWAY COMPANY Cost of Goods Manufactured Schedule For the Year Ended June 30, 2020 Work in Process Inventory, July 1, 2019 26,800 A Direct Materials T Raw Materials Inventory, July 1, 2019 A 51,100 T Raw Materials Purchases w HVI 97,500 Total Raw Materials Available for Use - 148600 T Raw Materials Inventory, June 30, 2020 46,000 1 Direct Materials Used A 102600 1/6 T Direct Labor A T 147,750 T Manufacturing Overhead A T Plant Manager's Salary 65,600 T Factory Property Taxes 9,810 IT Factory Repairs T 1,600 T Indirect Labor 26,560 T Factory Insurance A 4,700 T Factory Machinery Depreciation 19,000 Factory Utilities - 29,100 T Total Manufacturing Overhead , 156370 Total Manufacturing Costs A 406720 Total Cost of Work in Process Inventory 433520 Less A. Work in Process Inventory, June 30, 2020 A 22,300 T Cost of Goods Manufactured 411220 Click if you would like to Show Work for this question: Open Show Work CULTETO ACCOUNTS Cucu COLUTION Your answer is partially correct. Try again. Prepare an income statement through gross profit. WATERWAY COMPANY (Partial Income Statement For the Year Ended June 30, 2020 - 1 Sales Revenue A 88460 $ SS Sales Discounts 4,700 Net Sales A Cost of Goods Sold T Cost of Goods Manufactured * Cost of Goods Available for Sale Less Cost of Goods Sold Gross Profit CUSL vi uuuus vulu Cost of Goods Manufactured * Cost of Goods Available for Sale A Less & Cost of Goods Sold Gross Profit Click if you would like to Show Work for this question: Open Show Work SUOMI TST OF ACCOUNTS