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Problem 2 - The following information is for the Barnes Manufacturing Company; Sales revenue 600,000 Direct materials purchased 90,000 Direct labor 150,000 Factory rent 95,000

Problem 2 - The following information is for the Barnes Manufacturing Company; Sales revenue 600,000 Direct materials purchased 90,000 Direct labor 150,000 Factory rent 95,000 Sales office rent 50,000 Factory custodian salary 40,000 Sales office custodian salary 45,000 Inventory Balances 12/31/21 1/1/21 Direct materials 30,000 20,000 Work in process 55,000 60,000 Finished goods 95,000 85,000 Required: Prepare the following for Barnes Manufacturing Company; a. Direct Materials Schedule b. Cost of Goods Manufactured Schedule c. Cost of Goods Sold Schedule d. Income Statement

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