AABBCCDD A38bccodee AalbccDdEe AaBbcc Aa Bb Cende Heading 2 Normal Ne Spacing Heading 1 Hending 3 2:47 Viru uro in.IIVIDA Total compensation $720 EXERCISE 2-29 (25 MINUTES) Alexandria Aluminum Company, a manufacturer of recyclable soda cam, had the following inventary Schedules of Cost of Goox Exercise 2-29 balances at the beginning and end of 20x1. Manufactured and said Income Statement Inventory Classification January 1, 2011 (LO 2-1, 2-3,26) December 21, 2011 Rew material 560.000 $70,000 Work in process 120,000 115.000 150 000 155,000 Pached good During 20k 1, the company purchased $250,000 of raw material and spent $400,000 on direct labor Manufacturing overhead costs were as follows: $10.000 ndromater ndra labor Depreciation on paper Uits Other 25.000 100,000 25.000 30.000 Sales revenue was 51,105.00 for the year Selling and administrative expenses for the year amounted to $110.000. The firm's rate is 40 percent Required 1. Prepare a schedule of cost of gods manufactured 2. Prepare a schedule of cost of goods sold 1. Prepare an income statement Solution Layout View Sec 1 Pages: 4 of 9 Words: 1137 of 1556 3 MacBook FB $ 4 % 5 & 6 8 R. Y