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Your finance department provides you with the following data:
| Rent (manufacturing building) | $25,000 | |
| Hydro costs (manufacturing) | $77,000 | |
| Supplies (manufacturing) | $19,000 | |
| Insurance (office building) | $7,000 | |
| Indirect labour | $110,000 | |
| Direct labour cost | $65,000 | |
| Raw material purchases | $399,000 | |
| Online advertising | $30,000 | |
| Commissions to sales people | $70,000 | |
| Equipment depreciation (manufacturing) | $80,000 | |
| Depreciation (office building) | $55,000 | |
| | | |
| Inventories | Beginning of year | End of year |
| Raw materials | $65,000 | 45000 |
| Work in progress | $99,000 | 62000 |
| Finished goods | $205,000 | 70000 |
Prepare a schedule of cost of goods manufactured. (3) Prepare the cost of good sold section of the income statement. (2)
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