Sales Commission Sales Travelling Sales Promotion Distribution Deptt.-Salaries & Exps. Heat Light & Power Depreciation of Building 33,600 11,000 22,500 18,000 6.500 800 R.) 92.400 q17 Schedule III Schedule or Administrative Exps. Office Salaries and Expenses Depreciation of Office Appliances Depreciation of Building Heat Light and Power Rate and Taxes 8,600 870 800 6,500 2,100 18,870 Illustration 8: Popeye Company is a metal and wood cutting manufacturer, selling products to the home construction market. Consider the following data for the month of October, 2004: Sandpaper 5,000 Material handling Costs 1.75,000 Lubricants and Coolants 12,500 Miscellaneous Indirect Manufacturing Labour 1,00,000 Direct Manufacturing Labour 7.50.000 Direct Materials, October 1, 2004 1,00,000 Direct Materials, October 31, 2004 1.25.000 Finished Goods, October 1, 2004 2.50.000 Finished Goods, October 31, 2004 3,75,000 Work-in-process, October 1, 2004 25,000 Work-in-process, October 31, 2004 35,000 Plant-Leasing Costs 1.35,000 Depreciation-Plant Equipment 90,000 Property Taxes on Plant Equipment 10.000 Fire Insurance on Plant Equipment 7,500 Direct Materials Purchased 11,50,000 Sales Revenues 34,00,000 Marketing Promotions 1.50,000 Marketing Salaries 2,50.000 Distribution Costs 1.75,000 Customer-Service Costs 2.50,000 Required: Prepare an income statement with a separate supporting schedule of cost of goods manufactured. (i) For all manufacturing items, indicate by V or F whether each is basically a variable cost or a fixed cost (where the cost object is a product unit). (CAPE II Nov. 2004)