The following information is available for Lagakos Corporation for 20Y8: Inventories January 1 December 31 Materials $77,250 $93,600 Work in process 108,800 96,700 Finished goods 112,500 108,400 December 31 Advertising expense $67,800 Depreciation expense-office equipment 23,000 Depreciation expense-factory equipment 14,600 Direct labor 186,100 Heat, light, and power-factory 5,550 Indirect labor 23,800 Materials purchased 123,800 Office salaries expense 78,300 Property taxes-factory 4,145 Property taxes-office building 13,800 Rent expense-factory 6,550 Sales 861,500 Sales salaries expense 138,500 Supplies-factory 4,750 Miscellaneous costs-factory 4,420 Required: 1. Prepare the statement of cost of goods manufactured.* 2. Prepare the income statement.* Extracted text: Lagakos Corporation Staterment of Cost of Goods Manufactured (Label) 2 Direct materials * Factory overhead: 11 14 Total factory overhead 17 * Total manufacturing costsExtracted text: Lagakos Corporationı Income Statement (Label) 2 Cost of goods sold: Operating expenses 10 Administrative expenses: 11 14 Selling expenses: 16

The following information is available for Lagakos Corporation for 20Y8: Inventories January 1 December 31 Materials $77,250 $93,600 Work in process 108,800 96,700 Finished goods 112,500 108,400...

The following information is available for Lagakos Corporation for 20Y8:

Inventories	January 1	December 31
Materials	$77,250	$93,600
Work in process	108,800	96,700
Finished goods	112,500	108,400

	December 31
Advertising expense	$67,800
Depreciation expense-office equipment	23,000
Depreciation expense-factory equipment	14,600
Direct labor	186,100
Heat, light, and power-factory	5,550
Indirect labor	23,800
Materials purchased	123,800
Office salaries expense	78,300
Property taxes-factory	4,145
Property taxes-office building	13,800
Rent expense-factory	6,550
Sales	861,500
Sales salaries expense	138,500
Supplies-factory	4,750
Miscellaneous costs-factory	4,420

Required:

	1. Prepare the statement of cost of goods manufactured.*
	2. Prepare the income statement.*

Lagakos Corporation<br>Staterment of Cost of Goods Manufactured<br>(Label)<br>2 Direct materials<br>* Factory overhead:<br>11<br>14<br>Total factory overhead<br>17<br>* Total manufacturing costs<br>

Extracted text: Lagakos Corporation Staterment of Cost of Goods Manufactured (Label) 2 Direct materials * Factory overhead: 11 14 Total factory overhead 17 * Total manufacturing costs
Lagakos Corporationı Income Statement (Label) 2 Cost of goods sold: Operating expenses 10 Administrative expenses: 11 14 Selling expenses: 16

Lagakos Corporationı<br>Income Statement<br>(Label)<br>2 Cost of goods sold:<br>Operating expenses<br>10 Administrative expenses:<br>11<br>14 Selling expenses:<br>16<br>

Extracted text: Lagakos Corporationı Income Statement (Label) 2 Cost of goods sold: Operating expenses 10 Administrative expenses: 11 14 Selling expenses: 16

Jun 02, 2022

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The following information is available for Lagakos Corporation for 20Y8: Inventories January 1 December 31 Materials $77,250 $93,600 Work in process 108,800 96,700 Finished goods 112,500 108,400...

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