Reference no: EM132733028

Question - The following information is available for Robstown Corporation for 20Y8:

Inventories January 1 December 31

Materials $78,250 $93,750

Work in process 109,800 95,700

Finished goods 112,000 108,800

Advertising expense $68,800

Depreciation expense-office equipment 21,750

Depreciation expense-factory equipment 14,420

Direct labor 185,700

Heat, light, and power-factory 5,950

Indirect labor 24,700

Materials purchased 124,600

Office salaries expense76,400

Property taxes-factory 4,120

Property taxes-office building 12,300

Rent expense-factory 6,650

Sales 862,500

Sales salaries expense 135,500

Supplies-factory 3,500

Miscellaneous costs-factory 5,300

Required -

a. Prepare the 20Y8 statement of cost of goods manufactured. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

b. Prepare the 20Y8 income statement. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive.