Parmitan Corporation hyas provided the following data concerning last month's manufacturing Operations.

Purchases of raw materials ..................................................................................$53,000

Indirect materials included in manufacturing overhead ...........................................8,000

Direct labor ...........................................................................................................62,000

Manufacturing overhead applied to work in process ..............................................41,000

Underapplied overhead ...........................................................................................8,000

Required:
1. Prepare a schedule of Cost of Goods Manufactured Schedule
2. Prepare an income statement for the just completedyear.

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Raw materials inventorv Work in process inventory Finished goods inventory Beginning Ending $24,000 $6,000 41.000 86,000 4 38.000 93,000