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Preparing a Manufacturing Statement

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*Please look at the attachment!!!!
*Please describe how to calculated!!

Information for Gifford, Inc., as of December 31 follows: (see attachment)

Prepare a manufacturing statement for the yea ended December 31.

Administrative Salaries $35,000
Depreciation of Factory Equipment $25,000
Depreciation of Delivery vehicles $6,000
Direct Labor $68,000
Factory supplies Used $9,000
Finished goods Inventory, January 1 $57,000
Finished goods Inventory, December 31 $?
Factory Insurance $15,500
Interest Expense $12,000
Factory Utilities $14,000
Factory Maintenance $7,500
Raw Materials Inventory, January 1 $5,000
Raw Materials Inventory, December 31 $4,000
Raw Material Purchases $125,000
Rent on Factory Building $25,000
Repairs of Factory Equipment $11,500
Sales Commissions $37,500
Goods in Process Inventory, January 1 $3,500
Goods in Process Inventory, December 31 $2,700

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Dear student,
Solution is provided in a separate excel file attched.It contains following parts of Manufacturing statement.

(A) Cost Of Raw Materials Used:

(B) Direct Manufacturing Labor:

(C )Manufacturing Overhead:

(D) Cost of Goods Manufactured:

(E) Explanatory Notes:
Selling and Administrative expenses such as salaries , interest expense, sales commissin,Advertising,delivery expenses & Other ...

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