Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company

The following information is available for Deutsch Corporation for 2014:

Inventories	January 1		December 31
Materials	$233,450		$284,810
Work in process	420,210		387,340
Finished goods	403,870		395,890

Advertising expense	$193,390
Depreciation expense-office equipment	27,340
Depreciation expense-factory equipment	36,740
Direct labor	438,610
Heat, light, and power-factory	14,530
Indirect labor	51,270
Materials purchased	430,060
Office salaries expense	150,090
Property taxes-factory	11,960
Property taxes-office building	24,780
Rent expense-factory	20,220
Sales	2,013,610
Sales salaries expense	247,220
Supplies-factory	9,970
Miscellaneous costs-factory	6,270

1. Prepare the 2014 statement of cost of goods manufactured.

2. Prepare the 2014 income statement.