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Westlake, Inc. produces metal fittings for the aerospace industry. The administrative and manufacturing operations occupy the same 200,000 square foot building. The manufacturing plant uses 150,000 square feet. Depreciation is assigned based on building use. Indirect labor represents 15 percent of the total manufacturing plant labor. The financial information for the year just ended is shown as follows. (Thousands of dollars) Administrative coats $260 Total building depreciation 600 Direct materials inventory, January 1 25 Direct materiale inventory, December 31 30 Direct materiale purchased during the year 1.580 Tinished goods inventory, December 31 90 Indirect labor 240 Maintenance on plant machinery Marketing costs 130 Operating profit Other plant overhead Plant supervision and administration 165 Plant supplies and indirect materials Sales revenue 6.000 Taxes on manufacturing property 127 Work-in-process inventory, January 1 90 Work-in-process inventory, December 31 120 150 920 93 72 Required: 1. Prepare a cost of goods manufactured and sold statement. 2. Prepare an income statement. Complete this question by entering your answers in the tabs below. COGM and COGS Stmts Income Stmt Prepare a cost of goods manufactured and sold statement. (Enter your answers in thousands of dollars (1.e., 234,000 should be entered as 234).) WESTLAKE, INC Cost of Goods Manufactured and Sold Statement For the Year Ending December 31 (Thousands of Dollars) Manufacturing costs: Direct materials: Manufacturing overhead: 0 Total overhead Total manufacturing costs Total cost of work-in-process during the year Costs of goods manufactured this year Cost of goods available for sale Cost of goods sold Income SE > Complete this question by entering your answers in the tabs below. COGM and COGS Stmts Income Stmt Prepare an income statement. (Enter your answers in thousands of dollars (1.c., 234,000 should be entered as 234).) WESTLAKE, INC. Income Statement For the Year Ending December 31 (Thousands of Dollars) Total operating costs 0

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