$(12$ points$)$ The following data have been taken from the accounting records of Larder

Corporation for the just completed year.

Sales

Purchases of raw materials

Direct labor

Applied Manufacturing overhead

Administrative expenses

Selling expenses.

Raw materials inventory, beginning

Raw materials inventory, ending

Work in process inventory, beginning

Work in process inventory, ending

Finished goods inventory, beginning.

Finished goods inventory, ending

$$2,135,000$

$$520,000$

$$465,000$

$$415,000$

$$285,000$

$$256,000$

$$410,000$

$$315,000$

$$385,000$

$$361,000$

$$355,000$

$$308,000$

Required:

a$.$ Prepare a Schedule of Cost of Goods Manufactured in good form.

b$.$ Compute the Cost of Goods Sold.

c$.$ Using data from your answers above, prepare an Income Statement $($using the

traditional format$).$