The following data refer to Laredo Luggage Company for the year 20x2:

Sales revenue	$	1,000,000
Work-in-process inventory, December 31		30,000
Work-in-process inventory, January 1		40,000
Selling and administrative expenses		150,000
Income tax expense		80,000
Purchases of raw material		170,000
Raw-material inventory, December 31		25,000
Raw-material inventory, January 1		20,000
Direct labor		190,000
Utilities: plant		40,000
Depreciation: plant and equipment		50,000
Finished-goods inventory, December 31		50,000
Finished-goods inventory, January 1		15,000
Indirect material used		8,000
Indirect labor		12,000
Other manufacturing overhead		60,000

41.

Required information

1.	Prepare Laredo Luggages schedule of cost of goods manufactured for the year.

rev: 06_08_2015_QC_CS-17166

42.

Required information

2.	Prepare Laredo Luggages schedule of cost of goods sold for the year.

43.

Required information

3.	Prepare Laredo Luggages income statement for the year.