Waterways Corporation is a private corporation formed for the purpose of providing the products and the services needed to irrigate farms, parks, commercial projects, and private lawns. It has a centrally located factory in a U.S. city that manufactures the products it markets to retail outlets across the nation. It also maintains a division that performs installation and warranty servicing in six metropolitan areas. The mission of Waterways is to manufacture quality parts that can be used for effective irrigation projects that also conserve water. By that effort, the company hopes to satisfy its customers, perform rapid and responsible service, and serve the community and the employees who represent them in each community. The company has been growing rapidly, so management is considering new ideas to help the company continue its growth and maintain the high quality of its products. Waterways was founded by Will Winkman who is the company president and chief executive officer (CEO). Working with him from the company's inception is Will's brother, Ben, whose sprinkler designs and ideas about the installation of proper systems have been a major basis of the company's success. Ben is the vice president who oversees all aspects of design and production in the company. The factory itself is managed by Todd Senter who hires his line managers to supervise the factory employees. The factory makes all of the parts for the irrigation systems. The purchasing department is managed by Helen Hines. The installation and training division is overseen by vice president Henry Writer, who supervises the managers of the six local installation operations. Each of these local managers hires his or her own local service people. These service employees are trained by the home office under Henry Writer's direction because of the uniqueness of the company's products. There is a small human resources department under the direction of Sally Fenton, a vice president who handles the employee paperwork, though hiring is actually performed by the separate departments. Teresa Totter is the vice president who heads the sales and marketing area; she oversees 10 well-trained salespeople. The accounting and finance division of the company is headed by Ann Headman, who is the chief financial officer (CFO) and a company vice president; she is a member of the Institute of Management Accountants and holds a certificate in management accounting. She has a small staff of accountants, including a controller and a treasurer, and a staff of accounting input operators who maintain the financial records. A partial list of Waterways' accounts and their balances for the month of November follows. Question 1 of 2 < > Your answer is correct. 0.33/1 E A list of accounts and their values are given above. From this information, prepare a cost of goods manufactured schedule for Waterways Corporation for the month of November, 2022. (Assume that all raw materials used were direct materials.) Work in Process Inventory, 10/31 Direct Materials Raw Materials Inventory, 10/31 Raw Material Purchases Total Raw Materials Available for Use Less Raw Materials Inventory, 11/30 Direct Materials Used Direct Labor Manufacturing Overhead WATERWAYS CORPORATION Cost of Goods Manufactured Schedule For the Month of November, 2022 > SA 38100 182700 220800 52200 i Depreciation Expense-Factory Equipment 16800 Factory Supplies Used Factory Utilities 16800 10200 A $ 168600 41700 Question 1 of 2 < > Direct Labor Manufacturing Overhead Depreciation Expense-Factory Equipment Factory Supplies Used Factory Utilities Indirect Labor Rent-Factory Equipment Repairs-Factory Equipment Total Factory Overhead Total Manufacturing Costs Total Cost of Work in Process Less Work in Process Inventory, 11/30 Cost of Goods Manufactured eTextbook and Media List of Accounts 16800 16800 10200 47500 47100 4400 0.33/1 41700 142800 A list of accounts and their values are given above. From this information, prepare an income statement for Waterways Corporation for the month of November, 2022. Sales Revenue Cost of Goods Sold Finished Goods Inventory, 10/31 Cost of Goods Manufactured Cost of Goods Available for Sale Less Finished Goods Inventory, 11/30 Cost of Goods Sold Gross Profit Operating Expenses Selling Expenses Advertising Expenses Sales Commissions Total Selling Expenses WATERWAYS CORPORATION Income Statement For the Month of November, 2022 GA 54400 i 40700 LA 72200 364000 436200 -68500 95100 Less Finished Goods Inventory, 11/30 Cost of Goods Sold Gross Profit Operating Expenses Selling Expenses Advertising Expenses Sales Commissions Total Selling Expenses Administrative Expenses Office Salaries Depreciation Expense-Office Equipment Office Supplies Expense Other Administrative Expenses Total Administrative Expenses Total Operating Expenses Net Income/(Loss) > $ 54400 i 40700 i 324500 i 2400 i 1500 i 72300 i -68500 95100 400700 (b3) A list of accounts and their values are given above. From this information, prepare a partial balance sheet for Waterways Corporation for the month of November, 2022. (List Current Assets in order of liquidity.) WATERWAYS CORPORATION Balance Sheet (partial) Assets $ $