The following information is available for Aikman Company.

		January 1, 2020		2020		December 31, 2020
Raw materials inventory		$21,950				$31,370
Work in process inventory		18,360				18,110
Finished goods inventory		28,500				23,650
Materials purchased				$153,710
Direct labor				223,790
Manufacturing overhead				181,740
Sales revenue				902,150

Part 1

Compute cost of goods manufactured.

Aikman Company Cost of Goods Manufactured Schedule

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eTextbook and Media

Attempts: 0 of 3 used

Using multiple attempts will impact your score.

10% score reduction after attempt 2

Part 2

Prepare an income statement through gross profit.

AIKMAN COMPANY Income Statement (Partial)

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eTextbook and Media

Attempts: 0 of 3 used

Using multiple attempts will impact your score.

10% score reduction after attempt 2

Part 3

Show the presentation of the ending inventories on the December 31, 2020, balance sheet.

AIKMAN COMPANY (Partial) Balance Sheet

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