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Old World Furniture constructs and sells executive style conference tables. The selling price is $15,000 per table. A unique feature is that the only raw material used in the construction of each table, other than indirect materials like glues and screws, comes entirely costs of production have remained stable, and Old World is abile to use each tree purchased withou incurring any significant spoilage. Consider the following "disorganized" information and complete the indicated requirements from a single tree. Tree prices and other Ending work in process (900 tables) Selling price per table Ending finished goods (300 tables) Indirect labor incurred dering the period Raw materials transferred into prodaction (1,050 trees) 1,050,000 Beginning finished goods (600 tables) Cost of gloes and screws Beginning wock in process Ending raw materials (750 trees) Direct labor incurred during the period Selling, general, and administrative costs incurred 1725,000 Depreciation of factory equipment Raw material purchases during the period (1,350 trees) 1,350,000 All other factory overbead Tables sold (1,200 tables) $2,700,000 15,000 2,100,000 187.500 200,000 52,500 2,197,500 750,000 4950,000 112,500 ) Complete the reconciliation of units on the accompanying blank wockasbeet, showing the unit activity in raw materials, work in process, and finished goods. b) Calculate the cost of goods manufactured c) Calculate the cost of goods sold. d) alculate net income. Assume an income tax rate of 30% Worksheet 5 Beginning balance Transfers outisales Ending balance c) d)

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