Based on the Following Information,prepare a Schedule of Cost of Goods

question 95

Essay

Based on the following information,prepare a Schedule of Cost of Goods Manufactured and a multi-step Income Statement for Junaluska Company for the year ended December 31,2020
$\begin{array}{|l|r|}\hline \text { Beginning Work-in-Process Inventory, Jan, 1 } & \$ 60,000 \\\hline \text { Ending Work-in-Process Inventory, Dec. 31 } & 40,000 \\\hline \text { Beginning Finished Goods Inventory, Jan. 1 } & 50,000 \\\hline \text { Ending Finished Goods Inventory, Dec. 31 } & 20,000\\\hline \text { Net Sales Revenue } & 1,800,000 \\\hline \text { Selling and Administrative Expenses } & 500,000 \\\hline \text { Direct Labor } & 300,000\\\hline \text { Manufacturing Overhead; actual and allocated } & 400,000 \\\hline \text { Direct Materials Used } & 200,000 \\\hline \text { Income Tax Expense } & 70,000 \\\hline \end{array}$

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