You have been asked by the CEO of B.R. Engines to assist in analyzing product costs. This analysis is used in internal decision making and in reporting to investors. The following Tableau Dashboard provides data needed for the analysis.
1. Prepare a schedule of cost of goods manufactured for the current year ended December 31. List individual overhead account balances in the schedule.
2. Compute cost of goods sold for the current year ended December 31. Note: use cost of goods manufactured calculated in part 1.
3. Prepare an income statement for the company. Note: use cost of goods sold calculated in part 1.