Raw materials, beginning - $60,000 Raw materials purchase - $140,000 Raw Materials, ending - $64,000 Rent expense, factory-$45,000 Repairs expense factory-$11,500 Factory supplies used - $14,000 Factory utilities $9,500 Indirect labor- $38,000 Sales - $1,000,000 General & administrative expenses - $103,500 Selling expenses - $75,000 Raw materials, beginning Raw materials purchases Raw materials used Raw materials, ending $0 $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 Work in Process & Finished Goods Inventories Work in Process Finished Goods Rent expense - Factory $50,000 54,000 50,000 $40,000 43,000 Repairs expense - Factory $30,000 33,000 Factory supplies used (Indirect materials) Factory utilities $20,000 $10,000 $0 Beginning Ending Beginning Ending Indirect labor Additional Data Accounts receivable, net $150,000 Cash $350,000 Direct labor $180,000 Sales and Select Expense Accounts Sales General & administrative expenses Selling expenses $200,000 $400,000 $600,000 $0 $800,000 $1,000,000 Mountaineer Co. Schedule of Cost of Goods Manufactured For Year Ended December 31 Direct materials Raw materials available for use Direct materials used $ 0 Factory overhead Total factory overhead costs Total manufacturing costs 0 Total cost of work in process 0 Cost of goods manufactured S Mountaineer Co. Computation of Cost of Goods Sold For Year Ended December 31 Cost of goods sold Goods available for sale Cost of goods sold $ 0 Mountaineer Co. Income Statement For Year Ended December 31 Cost of goods sold: Cost of goods available for sale 0 Cost of goods sold 0 Operating expenses 0 Total operating expenses Net income 0