Question $17$

$30$ pts

Given the following selected account balances of Sunny Manufacturing, prepare $($a$)$ its schedule of cost of goods manufactured and $($b$)$ its income statement for the year ended December $31.$

Sales

$$2,500,000$

Raw materials inventory, beginning $74,000$

Work in process inventory, beginning $107,800$

Finished goods inventory, beginning $125,500$

$\backslash$table$[[$Raw materials purchases,$351,200],[$Direct labor,$450,000],[$Indirect labor,$94,000],[$Repairs $-$ Factory equipment,$46,180],[$Rent cost of factory building,$114,000],[$Selling expenses,$188,000]]$

General and administrative expenses $258,600$

Raw materials inventory, ending $85,400$

Work in process inventory, ending $83,000$

Finished goods inventory, ending $134,600$

Edit Format Table

$12$pt

Paragraph

$($a$)$

$($b$)$