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The following information is for Cena, Co., Dec. 31, 2020. Raw materials inventory beginning balance $15,000 Raw materials inventory ending balance $12,000 Work-in-process inventory beginning

The following information is for Cena, Co., Dec. 31, 2020.

Raw materials inventory beginning balance $15,000 Raw materials inventory ending balance $12,000

Work-in-process inventory beginning balance $825,000

Work-in-process inventory ending balance $900,000

Finished goods inventory beginning balance $615,000

Finished goods inventory ending balance $525,000

Raw material purchases $150,000

Direct labor used in production $187,500

Manufacturing overhead $945,000

selling costs $135,000

General and administrative $360,000

sales revenue $1,897,500

Of the total raw material amount given, $18,000 was for indirect materials.

1. Calculate the cost of direct materials used in production.

2. Calculate the cost of goods manufactured.

3. Calculate the cost of cost of goods sold.

4. Prepare an income statement for the year ending December 31, 2020

Please show work, I'm trying to understand how to calculate it

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