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

Inventories	January 1	December 31
Materials	$78,900	$93,850
Work in process	109,800	95,500
Finished goods	113,750	109,000

	December 31
Advertising expense	$ 68,200
Depreciation expense-office equipment	21,000
Depreciation expense-factory equipment	14,780
Direct labor	186,800
Heat, light, and power-factory	5,650
Indirect labor	24,700
Materials purchased	123,600
Office salaries expense	74,900
Property taxes-factory	4,000
Property taxes-office building	13,800
Rent expense-factory	6,550
Sales	862,500
Sales salaries expense	138,500
Supplies-factory	2,750
Miscellaneous costs-factory	5,120

	Required:
	a. Prepare the 20Y8 statement of cost of goods manufactured. For those boxes in which you must enter subtracted or negative numbers use a minus sign.*
	b. Prepare the 20Y8 income statement. *Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Amount Descriptions Advertising expense Cost of direct materials used in production Cost of finished goods available for sale Cost of goods manufactured Cost of goods sold Cost of materials available for use Depreciation expense-factory equipment Depreciation expense-office equipment Direct labor Finished goods inventory, December 31, 20Y8 Finished goods inventory, January 1, 20Y8 Gross profit Heat, light, and power-factory Indirect labor Materials inventory, December 31, 20Y8 Materials inventory, January 1, 20Y8 Miscellaneous costs-factory Net income Office salaries expense Property taxes-factory Property taxes-office building Purchases Rent expense-factory Sales Sales salaries expense Supplies-factory Total manufacturing costs incurred in 20Y8 Total operating expenses Work in process inventory, December 31, 20Y8 Work in process inventory, January 1, 20Y8 X Statement of Cost of Goods Manufactured 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. Robstown Corporation Statement of Cost of Goods Manufactured For the Year Ended December 31, 20Y8 1 2 Direct materials: 3 4 5 6 7 8 9 Factory overhead: 10 11 12 13 14 15 16 17 Total factory overhead 18 19 Total manufacturing costs 20 21 b. Prepare the 20Y8 income statement. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Robstown Corporation Income Statement For the Year Ended December 31, 20Y8 1 2 Cost of goods sold: 3 4 5 6 7 8 9 Operating expenses: 10 Administrative expenses: 11 12 13 14 Selling expenses: 15 16 17 18

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