1. You are the management accountant of Bella Corp. Compose a memo for the board meeting to discuss the company's 2019 schedule of cost of goods manufactured and multiple-step income statement, with expenses categorized into a) cost of goods sold, (b) selling expenses and (c) general and administrative expenses.

Advertising Expense

$35,000

Direct Labor

$650,000

DepreciationOffice Equipment

$9,100

Income Taxes Expense

$280,000

DepreciationSelling Equipment

$10,500

Indirect Labor

$62,000

DepreciationFactory Equipment

$37,000

Miscellaneous Production Costs

$130,000

Factory Supervision

$105,000

Office Salaries Expense

$65,000

Factory Supplies Used

$89,000

Raw Materials Purchases

$975,000

Factory Utilities

$42,000

Rent Expense-Office Space

$28,000

Inventories

Rent ExpenseSelling Space

$29,000

Raw Materials, December 31, 2018

$165,000

Rent ExpenseFactory Building

$84,000

Raw Materials, December 31, 2019

$185,000

Maintenance ExpenseFactory Equipment

$38,000

Work In Progress, December 31, 2018

$20,000

Sales

$4,600,000

Work In Progress, December 31, 2019

$27,000

Sales Salaries Expense

$410,000

Finished Goods, December 31, 2018

$170,000

Finished Goods, December 31, 2019

$140,000