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

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

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