Consider the following account balances for Tana Company in 2015 (10 points).
Beginning
Ending
Direct materials inventory
Br. 22,000
Br. 26,000
Work-in-process inventory
21,000
20,000
Finished goods inventory
18,000
23,000
Purchases of direct materials
75,000
Direct manufacturing labor
25,000
Indirect manufacturing labor
15,000
Plant insurance
9,000
Depreciation—plant, building, and equipment
11,000
Repairs and maintenance—plant
4,000
Marketing, distribution, and customer-service costs
93,000
General and administrative costs
29,000
Required: Based on the above information,
a) Prepare a schedule for the cost of goods manufactured for 2015.
b) Prepare the income statement for 2015 assuming that revenue for 2015 is Br 500,000