question 1

Rogue Company, a small manufacturer has the following accounts on July 31, 2021 Administrative salaries Advertising expense Rent Depreciation factory equipment Direct labour Raw materials, beginning of year Sales Raw materials, end of year Finished goods, beginning of year Finished good, end of year Insurance expense Raw material purchases Sales salaries Repairs and maintenance factory Work in process, beginning inventory Work in process, ending inventory $55,000 $38,000 $150,000 $50,000 $190,000 $15,000 $800,000 $5,000 $2,000 $16,000 $60,000 $135,000 $50,000 $30,000 $54,000 $15,000 . 80% of rent is for the manufacturing plant the remainder is for the office building. 20% of Insurance is for Administrative purposes, the remainder is for factory items. Required: Prepare a Schedule of Cost of Goods Manufactured for the month in good format. (15 Marks) Prepare a Partial Statement for the Cost of Goods sold. (5 Marks) Prepare an Income Statement