Question: I need help with this problem. I don't know the wrong answers The following data pertain to Babor Company for the fiscal year ended December

 I need help with this problem. I don't know the wronganswers The following data pertain to Babor Company for the fiscal year

I need help with this problem. I don't know the wrong answers

The following data pertain to Babor Company for the fiscal year ended December 31: Prior December 31 Purchases of materials Direct labor Indirect labor Factory insurance Depreciation-factory Repairs and maintenance-factory Marketing expenses General and administrative expenses Materials inventory Work-in-Process inventory Finished Goods inventory Current December 31 $ 167,500 115,250 45,500 8,100 33,250 11,300 124,350 86,150 55,750 16,200 25,000 $ 23,500 13,250 17,100 Sales in the current year were $563,000. Required: Prepare a schedule of cost of goods manufactured and an income statement for the current year for Babor Company. Stmt of COGM Income Statement Prepare a schedule of cost of goods manufactured for the current year for Babor Company. > Babor Company Statement of Cost of Goods Manufactured For the Year Ended December 31 Direct materials Beginning materials inventory $ 23,500 Materials purchases 187.000 X Materials available 190.500 X Less: Ending materials inventory 134,750 Direct materials used $ Direct labor-wages Factory overhead Indirect labor-wages S 45,500 Factory insurance 8.100 Depreciation expense-plant 33.250 Repairs and maintenance 11.300 134,750 X 115.250 > >> OOOO 213,400 > Total factory overhead Total manufacturing costs Add: Beginning work-in-process inventory Total manufacturing costs to account for Less: Ending work-in-process inventory Cost of goods manufactured 348,150 13,250 348,150 X (16.200) 345,200 X $

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