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The following is information provided from the records of Kaimana Company for August 31,2023: ...

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Accounting

The following is information provided from the records of Kaimana Company for August 31,2023:
Sales $18,500,000
Salaries and benefits:
Selling & administration 2,000,000
Direct manufacturing labour 3,000,000
Plant Maintenance workers 60,000
Purchases of Direct Materials 4,500,000
Indirect materials used 117,500
Amortization expense **225,000
Rent and insurance**2,000,000
Property taxes on plant equipment 12,500
Management salaries 120,000
Heat, light & power **600,000
Advertising expense 350,000
**: 70% OF THESE COSTS ARE
ASSIGNED TO MANUFACTURING
OVERHEAD, AND 30% TO SELLING AND
ADMINISTRATION
Inventories: August 1 August 31
Finished goods $ 12,000,000 $8,000,000
Direct Materials 2,200,000800,000
Work in process 187,500212,500
REQUIRED:
1. IN GOOD FORM, prepare a Schedule of Cost of Goods Manufactured for August.
(20 marks)
2. IN GOOD FORM, prepare an Income Statement for August. (18 marks)

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