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The following information has been extracted from the records of Haverhill Company: Sales $400,000 Purchases of direct materials 70,000 Indirect Labor 10,000 Indirect Materials 4,000

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The following information has been extracted from the records of Haverhill Company: Sales $400,000 Purchases of direct materials 70,000 Indirect Labor 10,000 Indirect Materials 4,000 Depreciation of factory equipment 15,000 Depreciation of factory buildings 11,000 Depreciation of administrative building 41,000 Marketing costs 25,000 Direct Labor 180,000 Direct materials inventory 12-31-x2 14,000 Work in Process 1-1-x2 31,000 Direct Materials inventory 1-1-x2 10,000 Work in process, 12-31-x2 23,000 Finished goods inventory, 1-1-x2 49,000 Finished goods inventory, 12-31-x2 44,000 Required: a. Prepare a statement of cost of goods manufactured b. Prepare an income statement for the Haverhill Company for the year ending December 31, 20

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