Raw material inventory Work in process inventory Finished goods inventory Purchases of direct mataas Direct labor Beginning End of of Year Year $ 20.000 33,000 Insurance on plant $ 36,000 $ 27,000 Depreciation plant building and equipment 17.000 $ 25,000 Repairs and maintenance plan 5 78,000 Marketing expenses 5 87.000 General and administrative expenses $140,000 End of Year $ 9,500 $ 12,800 $ 3.000 $ 80,000 $ 25,500 Indirect labor cost of goods manufactured.) cost of X Reference 1 Com atema nt Yea 36,000 West Nautical Industries Calculation of Cost of Goods Manufactured For Current Year Beginning work in process itiventory $ Plus: Manufacturing costs incurred Direct materials used $ Direct labor Manufacturing overhead Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured (CGM) $ 71,000 87,000 66.000 260,000 27,000 233,000 Print Done Reference X autica me St Curre West Nautical Manufacturing Calculation of Cost of Goods Sold For Current Year Beginning finished goods invntory 17.000 233,000 Plus: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory 250,000 25,000 Cost of goods sold $ 225.000 Print Done West Nautical Company Income Statement For Current Year IDE Beginning finished goods inventory Cost of goods available for sale Cost of goods manufactured Cost of goods sold Ending finished goods inventory General and administrative expenses Gross profit Marketing expenses Operating expenses Operating income Operating loss Sales revenues Choose from any list or enter any number in the input fields and then continue to the next que West Nautical Company Income Statement For Current Year Less: Less: Prepare the income statement for West Nautical Company for the most recent year. Use the calculation of cost of goods sold, cost of goods manufactured, and the amounts below. Assume that the company sold 34,000 units of its product at a price of $10 each during the you (Click the loon to view the amounts Click the icon to view the calculation of cost of gods mandaclured) Prepare the income statement for West Nautical Company for the most recent year. Use the calculation of cost of goods sold, cost of goods manufactured, and the amounts below. Assume that the company sold 34,000 units of its product at a price of $10 each during the year