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Use the information in Part 1 for Juicy Lemonade Company to complete a Cost of Goods Manufactured Statement and a Cost of Goods Sold Statement

Use the information in Part 1 for Juicy Lemonade Company to complete a Cost of Goods Manufactured Statement and a Cost of Goods Sold Statement for the year ended 2019. All reports should be prepared in Excel with good form. The following cost and inventory data were taken from the records of the Juicy Lemonade Company for the year 2019:

Depreciation, factory equipment $30,000

Depreciation, office equipment 7,000

Supplies 1,500

Maintenance, factory equipment 20,000

Utility, factory 8,000

Sales commissions 30,000

Indirect labor 54,000

Rent, factory building 70,000

Purchases of direct materials (net) 124,000

Direct labor 80,000

Advertising expense 90,000

Costs incurred Inventories:

January 1 December31

Direct materials $9,000 $11,000

Work in progress 6,000 21,000

Finished goods 69,000 24,000

Use only the information in Part 2 to prepare a Contribution Margin Income Statement and a Gross Margin Income Statement for the month of July 2019. Assume the company produced and sold 5,000 units and there were no units in inventory on July 1, 2019. All reports should be prepared in Excel with good form. The cost accountant for the Juicy Lemonade Manufacturing Company has provided you with the following information for the month of July:

Variable costs Total per unit Fixed Costs

Direct labor $27.50

Direct materials 84.75

Manufacturing overhead 14.25 $120.000

Marketing costs 5.30 50.000

Administrative costs 2.90 75.000

Selling price 210.00

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