Problem 15(1):34 Name: Section: Score: 4 KeyCode ME Answers are entered in the cells with gray backgrounds Cells with non-gray backgrounds are protected and cannot be edited, An asterisk (*) will appear to the right of an incorrect entry 1. Robstown Corporation Statement of Cost of Goods Manufactured For the Year Ended December 31, 2018 Work in process inventory, January 1, 2018 Direct mail: 31.700 Materials inventory, December 31, 20Y8 Coot of direct materials used in production Direct labor Factory overhead Total factory overhead Total manufacturing costs incurred during the year Total manufacturing costs Cost of goods manufactured 2. Rostown Corporation Income Statement For the Year Ended December 31, 2018 Sales Cost of goods sold Cost of finished goods available for sale Cost of goods sold Gross profit Operating expenses Administrative expenses Selling expenses Total operating expenses Net income Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company Obj. 3 The following information is available for Robstown Corporation for 2048: Inventories 1-Jan 31-Dec Materials $ 44,250 $ 31,700 Work in process 63,900 80,000 Finished goods 101,200 99,800 Advertising expense Depreciation expense office equipment Depreciation expense-factory equipment Direct labor Heat, light, and power-factory Indirect labor Materials purchased Office salaries expense Property taxes factory Property taxes office building Rent expense-factory Sales Sales salaries expense Supplies -factory Miscellaneous costs --factory $ 400,000 30,000 80,000 1,100,000 53,300 115,000 556,600 318,000 40,000 25,000 27,000 3,850,000 200,000 9,500 11,400 Instructions 1. Prepare the 20Y8 statement of cost of goods manufactured. 2. Prepare the 20Y8 income statement