The following data have been taken from the accounting records of Larder Corporation for the just completed year.

• Sales......................................................$1,500,000
• Purchases of raw materials..............$230,000
• Direct labor............................................$385,000
• Applied Manufacturing overhead.......$320,000
• administrative expenses......................$315,000
• selling expenses...................................$200,000
• raw materials inventory, beginning....$210,000
• raw materials inventory, ending..........$130,000
• work in process inventory, beginning.$150,000
• work in process, ending.......................$185,000
• finished goods inventory, beginning..$150,000
• finished goods inventory, ending.......$285,000

Required:

1. Prepare a Schedule of cost of goods manufactured in good form.
2. Compute the cost of goods sold.
3. Using data from your answers above, prepare in Incom Statement (using the traditional format)