A review of accounts showed the following for Pacific Parts for last year:Administrative costs$1,216,000Depreciation, manufacturing412,000Direct labor1,928,000Direct materials purchases1,252,000Direct materials inventory, January 1408,000Direct materials inventory, December 31324,000Finished goods inventory, January 1640,000Finished goods inventory, December 31588,000Heat, light, and powerâ€”plant348,000Marketing costs1,088,000Miscellaneous manufacturing costs48,000Plant maintenance and repairs296,000Sales revenue8,144,000Supervisory and indirect labor508,000Supplies and indirect materials56,000Work-in-process inventory, January 1 . .540,000Work-in-process inventory, December 31568,000Prepare an income statement with a supporting cost of goods manufactured and sold statement.
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