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The following data were taken from the records of Colbern Company for the fiscal year ending on July 31, 2020. Raw Material Inventory 8/1/2019 $19,200

The following data were taken from the records of Colbern Company for the fiscal year ending on July 31, 2020.

Raw Material Inventory 8/1/2019 $19,200

Raw Material Inventory 7/31/2020 $15,840

Finished Goods Inventory 8/1/2019 $38,400

Finished Goods Inventory 7/31/2020 $30,360

Work In Process Inventory 8/1/2019 $7,920 \

Work In Process Inventory 7/31/2020 $7,440

Direct Labor $55,700

Indirect Labor $9,784

Accounts Receivable $10,800

Factory Insurance $1,840

Factory Machinery Depreciation $6,400

Factory Utilities $11,040

Office & Admin Utilities Expense $3,460

Office & Admin Equipment Depreciation $2,120

Sales Revenue $213,600

Plant Manager's Salary $23,200

Factory Property Taxes $3,840

Indirect Materials $3,720

Raw Materials Purchases $38,560

Cash $12,800

Income Taxes for the Colbern Company are 35%

Prepare Colberns schedule of cost of goods manufactured for the year.

Prepare Colberns schedule of cost of goods sold for the year.

Prepare Colberns Income Statement for the year.

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