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CoursHeroTranscribedText: HiSing manufactures beverages for the Taiwanese market. The following data relate to its July...

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Accounting

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CoursHeroTranscribedText: HiSing manufactures beverages for the Taiwanese market. The following data relate to its July 31, 2017 scal year end: $185,000 140,000 25,000 35,000 375,000 390,000 1,200,000 400,000 240,000 250,000 3,250,000 100,000 1,700,000 200,000 600,000 10,300,000 2,000,000 Raw materials inventory, August 1, 2016 Raw materials inventory, July 31, 2017 Work in process inventory, August 1, 2016 Work in process inventory, July 31, 2017 Finished goods inventory, August 1, 2016 Finished goods inventory, July 31, 2017 Direct labour Sales commissions Factory supervisors' wages Company president's salary Purchases of raw materials Property taxes (75% factory, 25% office) Depreciation (90% factory, 10% ofce) Repairs and maintenance (95% factory, 5% ofce) Utilities expense (90% factory, 10% ofce) Sales revenue Advertising Required: Based on the information above: d.) Prepare a schedule of cost of goods manufactured. e.) Prepare a schedule of cost of goods sold. f.) Prepare an income statement (assuming a tax rate of 25%.)

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