The following data (in thousands of dollars) have been taken from the accounti

The following data (in thousands of dollars) have been taken from the accounting records of Larder Corporation for the just completed year.

Sales

$950

Purchases of raw materials

$170

Direct labor

$210

Manufacturing overhead

$200

Administrative expenses

$180

Selling expenses

$140

Raw materials inventory beginning

$70

Raw materials inventory ending

$80

Work in process inventory beginning

$30

Work in process inventory ending

$20

Finished goods inventory beginning

$100

Finished goods inventory ending

$70

Required:

a. Prepare a Schedule of Cost of Goods Manufactured in good form.

b. Compute the Cost of Goods Sold.

c. Using data from your answers above as needed prepare an Income Statement in good form