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  3. the following information pertains to el limn, inc

The following information pertains to El Limn, Inc. as of December 31, 2022: Indirect materials...

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Accounting

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The following information pertains to El Limn, Inc. as of December 31, 2022: Indirect materials 42,000 Lubricants 5,000 Overtime 20,000 Production equipment depreciation 40,000 Factory rent 50,000 Factory Property-Equipment Tax 4,000 Fire insurance-Factory equipment 3,000 Direct materials purchased 400,000 Ending inventory materials 50,000 Sales 1,200,000 idle time 10,000 Miscellaneous indirect labor 40,000 Direct labor 300,000 Beginning inventory of materials 40,000 Ending inventory of finished goods 150,000 Beginning inventory of finished goods 100,000 Beginning inventory of work in progress 10,000 Ending inventory of work in progress 14,000 Sales commissions 60,000 Sales wages 100,000 Shipping costs 70,000 Administrative Expenses 100,000 Required: Prepare a Statement of Income and Expenses with the Cost of Manufactured Goods and Cost of Goods Sold Schedule for December 31, 2022

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