The adjusted trial balance for Colella a furniture company on September 30, the end of its first month of operations, is as follows:

The general ledger reveals the following additional data:
There were no beginning inventories.
Materials purchases during the period were $33,000
Direct labor costs was $18,500
Factory overhead costs were as follows:
In direct materials ..................................................................$1,400
In direct labor........................................................................$4,300
Depreciation of building ........................................................$3,000
Depreciation of machinery and equipment ............................$2,200
Utilities ...................................................................................$1,750
$12,650

Required:

1. Prepare a statement of cost of goods manufactured for the month of September.

2. Prepare an income statement for the month of September.

3. Prepare a balance sheet as of September 30.

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Collella Furniture Company Trial balance 30-Sep-05 Cash Accounts Receivable Finished goods Work in progress Materials Building Accumulated depreciation building Machinery and equipment Accumulated depreciation machinery and equipment Accounts Payable Payroll Capital stock Sales Cost of goods sold Factory overhead Selling and administrative expenses S21,800 $16,200 $13,900 $7,400 $300,000 S3,000 $88,000 S2,200 S7.900 S422.550 S68,300 S41.450 $15,200 S503,950 S503,950