At the beginning of 2019, Onyx Manufacturing Inc. had the following account balances:

Finished Goods Inventory $12,400

Work in Progress $12,500

Materials $15,000

The following information refers to transactions occurred in 2019:

Purchase of materials: $164,000

Direct labor incurred: $68,500

Direct materials $124,000

Manufacturing overhead: depreciation $21,500

MOH: Indirect labor $88,000

MOH: Indirect materials $46,000

Jobs completed with cost of: $340,000

Jobs sold for total revenue of: $440,000

Jobs sold with cost of: $345,000

Manufacturing overhead allocated to production: $150,000

Selling and marketing expenses $48,500

General and administrative expenses $12,800

Interest expenses $8,500

Income tax expense $4,700

Required:

a) Journalize the transactions related to inventories, adjustment), and sales of finished goods, MOH (including the end-of-the-year adjustment), and sales of finished goods.

b) Prepare the income statement for the year 2019, using the cost of goods sold format.

c) Prepare the income statement for the year 2019, using the total output format.