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The following balances are from the accounts of Tappan Parts:
| | January 1 (Beginning) | December 31 (Ending) |
| Direct materials inventory | $ | 22,400 | | $ | 25,400 | |
| Work-in-process inventory | | 32,800 | | | 28,800 | |
| Finished goods inventory | | 5,400 | | | 6,700 | |
| |
Direct materials used during the year amount to $45,900 and the cost of goods sold for the year was $53,400.
Required:
Prepare a cost of goods sold statement.
| TAPPAN PARTS |
| Cost of Goods Sold Statement |
| For the Year Ended December 31 |
| | | | |
| Manufacturing costs: | | | |
| Direct materials: | | | |
| | | | |
| | | | |
| Materials available | | | |
| | | | |
| Direct materials used | | | |
| | | | |
| Total manufacturing costs | | | |
| Total costs of work-in-process | | | |
| | | | |
| Cost of goods manufactured | | | |
| | | | |
| Finished goods available for sale | | | |
| | | | |
| Cost of goods sold |
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