Presented below is selected information from the Larry Companys current period accounting records:

Sales		$12,000
Raw Materials Used		2,500
Direct labor		3,000
Allocated overhead Selling and Administrative		4,500 2,500
Beginning Raw Material Inventory		300
Ending Raw Material Inventory		1,000
Beginning Work-in-Process Inventory		800
Ending Work-in-Process Inventory		300
Beginning Finished Goods Inventory		700
Ending Finished Goods Inventory		400

Required:

1. Prepare statement of cost of goods manufactured in good form.
2. Prepare income statement in good form (ignore income tax expense).