Question 21 22-3 Manufacturing Statement Financial Information for the year ending December 31". 2015 for ACE Manufacturing Company is given below: Beginning raw materials inventory $53.200 Beginning goods in process 78.400 Ending raw materials inventory 58.100 Ending goods in process 98.000 Direct Labour 149.800 Total Factory Overhead 105.000 Raw Materials purchases 210,000 Calculate the cost of Goods Manufactured. Question 21 22 - 4 MANUFACTURING STATEMENT & INCOME STATEMENT Some information for Lor-Ami, Inc. as of December 31, 2015 Administrative salaries Bad debts expense (Selling) $21,000 1,400 created by Ann Parsons for in class use only as an end of course review 25.200 4.200 64.750 7.000 45,000 Depreciation of Factory Equipment Depreciation of Sales Equipment rect labour actory supplies used Finished goods inventory. Jan. 1 Finished goods inventory, Dec. 31 Factory Insurance Interest Expense Bank of Fun) Indirect Labour - Factory Interest expense (Bank of Sun) Factory utilities Repairs on factory equipment Raw materials inventory. Jan. 1 Raw materials inventory, Des 31. Raw Materials Purchases Rent on Factory building Rent on Office Space Repairs of factory equipment Sales commissions Goods in Process Inventory. Jan. 1 Goods in Process Inventory, Dec 31 Sales Revenues Sales Returns and Allowances ross Profit Taxes 11.200 9.800 16.800 8.400 4,200 5.600 4.200 5.600 116,200 22,400 12.000 12,600 16.800 5,000 3.000 808,000 8.000 S500.000 34% of Operating income Prepare a Cost of Goods Manufactured Statement for the year ended December 31, 2015. Prepare an Income Statement for the year ended December 31, 2015. Lor-Ami Inc. Cost of Goods Manufactured Statement For the Year Ended December 31, 2015 Lor-Ami Income Statement For the Year Ended December 31, 2015