Ex 1 Ex 2 Ex 3 Ex 4 Ex 5 Exercise 3 Schedule of Cost of Goods Manufactured Income Statement Valenko Company has provided you with the following financial information: Raw Materials Work in Process Finished Goods Beginning End of Year of Year $50,000 $40,000 0 $33.000 $30,000 Advertising Expense Revenues Insurance - Factory Depreciation - Sales Equipment Rent - Factory Utilities - Factory Sales Commission Cleaning Supplies - Factory Depreciation - Factory Selling & Administration Maintenance - Factory Direct Labour Purchase of Raw Material Total Manufacturing costs for the year were $675,000 Create the following Cost of goods manufactured Cost of goods sold Income Statement $215.000 1,100,000 8.000 40,000 90,000 52.000 35,000 6,000 110,000 85.000 74.000 260,000