Financial and Managerial Accounting: P1-4B The following data were taken from the records of Dosey

Financial and Managerial Accounting 
P1-4B 
The following data were taken from the records of Dosey Manfacturing Company for the year ended December 31, 2011 
Raw materials 
Inventory 1/1/11 $47,000 
Raw materials 
Inventory 12/31/11 44,200 
finished goods 
Inventory 1/1/11 85,000 
Finished Goods 
Inventory 12/31/11 67,800 
Work in process 
Inventory 1/1/11 9,500 
work in process 
inventory 12/31/11 8,000 
Direct labor 145,100 
Indirect labor 18,100 
Accounts receivable 27,000 
Factory insurance $7,400 
Factory Machinery 
Depreciation 7,700 
factory utilities 12,900 
office utilities expense 8,600 
sales 465,000 
sales discounts 2,500 
plant managers salary 40,000 
factory property taxes 6,100 
factory repairs 800 
raw materials purchases 62,500 
cash 28,000 

Instructions: 
a.) prepare a cost of goods manufactured schedule. (assume all raw materials used were direct materials.) 
b.) Prepare an income statement through gross profit. 
c.) prepare the current assets section of the balance sheet at December 31.
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