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The following information is available for Robstown Corporation for 20Y8: Inventories January 1 December 31 Materials...

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

Inventories

January 1

December 31
Materials $345,000 $436,800
Work in process 634,600 591,600
Finished goods 607,800 575,500

December 31
Advertising expense $ 294,800
Depreciation expense-office equipment 42,000
Depreciation expense-factory equipment 55,940
Direct labor 669,000
Heat, light, and power-factory 22,100
Indirect labor 78,500
Materials purchased 658,000
Office salaries expense 185,900
Property taxes-factory 19,000
Property taxes-office building 31,800
Rent expense-factory 32,300
Sales 3,010,000
Sales salaries expense 416,000
Supplies-factory 15,300
Miscellaneous costs-factory 9,300
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.

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ekkarill92 answered 2 years ago
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