The following data pertain to Babor Company for the fiscal year ended December 31:

	Prior December 31				Current December 31
Purchases of materials					$	200,000
Direct labor						131,500
Indirect labor						52,000
Factory insurance						9,400
Depreciationfactory						36,500
Repairs and maintenancefactory						15,200
Marketing expenses						148,900
General and administrative expenses						88,100
Materials inventory	$	30,000				65,500
Work-in-Process inventory		16,500				18,800
Finished Goods inventory		18,400				24,400

Sales in the current year were $668,000.

Required:

Prepare a schedule of cost of goods manufactured and an income statement for the current year for Babor Company.

Complete this question by entering your answers in the tabs below.

• Stmt of COGM
• Income Statement

Prepare a schedule of cost of goods manufactured for the current year for Babor Company.

Babor Company
Statement of Cost of Goods Manufactured
For the Year Ended December 31
Direct materials
Materials available
Direct materials used
Factory overhead
Total factory overhead
Total manufacturing costs
Total manufacturing costs to account for
Cost of goods manufactured