Prepare the 2011 manufacturing statement for Carmichael Company using the following information.
Direct materials . . . . . . . . . . . . . . . . . . . . . $192,500
Direct labor . . . . . . . . . . . . . . . . . . . . . . . . . 65,150
Factory overhead costs . . . . . . . . . . . . . . . 26,000
Goods in process, Dec. 31, 2010 . . . . . . . . 159,600
Goods in process, Dec. 31, 2011 . . . . . . . . 144,750