Problem 4 (30 Points) Use the following information to complete the Manufacturing Statement for ABC Co. Advertising expense Amortization of patents Bad debts expense Depreciation office equipment Depreciation--factory equipment Depreciation--factory building Direct labor Factory supervision Factory supplies used Factory utillities Goods in process inventory, Dec. 31, 2002 Goods in process inventory, Dec 31, 2003 Indirect labor Interest expense Misc. expense Property taxes--factory equipment Raw materials inventory, Dec. 31, 2002 Raw materials inventory, Dec 31, 2003 Raw materials purchases Salaries expense Sales $65,000 $13,000 $25,000 $36,000 $35,000 $100,000 $200,000 $69,000 $20,000 $89,000 $7,000 $8.500 $43,500 $1,500 $6,000 $11,000 $14,000 $12,300 $56,000 $150,000 $1,530,000 ABC Co. Manufacturing Statement For the Year Ended December 31, 2003 Direct Materials Raw materials inventory, Dec. 31, 2002 Raw materials purchases Raw materials available for use Raw materials inventory, Dec. 31, 2003 Direct materials used Direct Labor Factory Overhead Total factory overhead costs Total manufacturing costs Add goods in process inventory. Dec 31, 2002 Total cost of goods in process Deduct goods in process inventory, Dec 31 2003 Cost of Goods Manufactured