Information about Carter Company for the year ending December 31, 2011, is as follows:
Ending direct materials is 20 percent larger than beginning direct materials.Ending work in process is half of the beginning work in process.Ending finished goods increased by $8,000 during the year.Prime costs and conversion costs are 70 percent and 60 percent of total manufacturing costs added, respectively.Materials purchases are $113,200.
Required:
Note: Find the numbers for the income statement first.
Definitions:
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