Question: The following cost and inventory data for the just completed year are taken from the accounting records of Eccles Company: Costs incurred: Advertising expense .

The following cost and inventory data for the just completed year are taken from the accounting records of Eccles Company:

Costs incurred:

Advertising expense . . . . . . . . . . . . . . . . . . . . $100,000

Direct labor cost . . . . . . . . . . . . . . . . . . . . . . . $90,000

Purchases of raw materials . . . . . . . . . . . . . . $132,000

Rent, factory building . . . . . . . . . . . . . . . . . . . $80,000

Indirect labor . . . . . . . . . . . . . . . . . . . . . . . . . . $56,300

Sales commissions . . . . . . . . . . . . . . . . . . . . . $35,000

Utilities, factory . . . . . . . . . . . . . . . . . . . . . . . . $9,000

Maintenance, factory equipment . . . . . . . . . . $24,000

Supplies, factory . . . . . . . . . . . . . . . . . . . . . . . $700

Depreciation, office equipment . . . . . . . . . . . . $8,000

Depreciation, factory equipment . . . . . . . . . . . $40,000

The following cost and inventory data for the just completed

Required:
1. Prepare a schedule of cost of goods manufactured.
2. Prepare the cost of goods sold section of Eccles Company's income statement for theyear.

Beginning of Year End of Year Inventories Raw materials.__. Work in process.. Finished goods $8,000 $5,000 000 $10,000 $20,000 $25,000 $70,

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