Problem 2.1 (LO2) Excel Cost of Goods Manufactured, Cost of Goods Sold, and Income The follow- ing information is available for Satterfield's Custom Glass for the fiscal year ending December 31, 2020: Beginning balance in Work in Process Inventory Ending balance in Work in Process Inventory Beginning balance in Finished Goods Inventory Ending balance in Finished Goods Inventory Direct material cost Direct labor cost Manufacturing overhead Selling and administrative expenses Sales Required a. Prepare a schedule of cost of goods manufactured. b. Prepare an income statement for fiscal 2020. Ignore income taxes. $ 210,000 300,000 500,000 400,000 2,500,000 3,000,000 1,700,000 1,350,000 8,500,000

Problem 2.1 (LO2) Excel Cost of Goods Manufactured, Cost of Goods Sold, and Income The following information is available for Satterfield's Custom Glass for the fiscal year ending December 31, 2020: Required a. Prepare a schedule of cost of goods manufactured. b. Prepare an income statement for fiscal 2020. Ignore income taxes