Reference no: EM132816143

The following data(in thousands of dollars) has been taken from the accounting records of lanyard corporation for the year just completed:

Sales 870
Purchase of raw materials 110
Direct labour 130
Manufacturing overhead 200
Administrative expenses 160
Selling expenses 140
Raw materials inventory, beginning 30
Raw materials inventory, ending 60
Work in process inventory, beginning 50
work in process inventory, ending 10
Finished good inventory, beginning 150
Finished good inventory, ending 140

Problem a) make a schedule of cost of goods manufactured in good form

Problem b) compute the cost of goods sold

Problem c) using data from your answers above as needed, make an income statement in good form