w.w philips company produced 4000 leather recliners during the year. These recliners sell for 400 each. Philips had 500 recliners in finished goods inventory at the beginning of the year . At the end of the year there were 700 recliners in finished goods inventory. Philips accounting records provide the following information:

wwww Photo Puma Hegning ang Debor 200.000 40.000 Demon 000 C 000 10000 200.000 40 1440 Being Ending Pedro Labels and Amount Descriptions Labels Add Less Manufacturing overhead Selling expenses Amount Descriptions Beginning work in process isd tior pro Commissions Cost of goods manufactured Cost of goods sold Depreciation, factory equipment Direct materials Direct labor Ending work in process General administration expense Gross margin Indirect labor Operating income Operating loss Rent, factory building Sales Sales supervisor's salary Total cost of product aces god ods ment Jerage me s Utilities, factory NOUG Maracted 1. Prepare a statement of cost of good manufactures Porter to the use of Led Amount Descriptione w tw eent worteger tout come with your te wees as regulatora/spe w wong Statement of Cost of Mandard For 1 2. Compute the average cost of producing one unit of product in the year The average cost of producing one unit of product in the year was S 3. Prepare an income statement for external sera. Refer to the list of Label and Amount Descriptions for the exact wording of test tema wenn your statement W W Philips Company Income Statement For Last Year 1 2 3 + Label 5 Label) 6 1 Purchases of raw materials $320,000 Beginning materials inventory 46,800 Ending materials inventory 66,800 Direct labor 200,000 Indirect labor 40,000 Rent, factory building 42,000 Depreciation, factory equipment 60,000 Utilities, factory 11,900 Salary, sales supervisor 90,000 Commissions, salespersons 180,000 General administration 300,000 Beginning work-in-process inventory 13,040 Ending work-in-process inventory 14,940 80,000 Beginning finished goods inventory Ending finished goods inventory 114,100 Required: 1. Prepare a statement of cost of goods manufactured 2. Compute the average cost of producing one unit of product in the year 3. Prepare an income statement for external users. WW.Cry wed 4000 h Pris accounting records provide the song intorno