Reno Company Provided the Following Information Regarding Its Operations for the Month

Essay

Reno Company provided the following information regarding its operations for the month ending September 30:
$\begin{array}{ll}\text { Acministrative salaries } & 30,000 \\\text { Depreciation on factory equipment } & 12,000 \\\text { Indirect materials } & 2,000 \\\text { Marketing and distribution costs } & 24,000 \\\text { Salaries for factory supervisors } & 20,000 \\\text { Wages for production workers} & 26,000 \\\text { Raw materials used} & 38,000\\\text { Sales revenues}&196,000\\\text { Selling costs}&18,000\\\text { Utilities for production facilities}&8,000\\\text { Number of units produced}&20,000\\\text {Number of units sold }&15,000\end{array}$
Required:Compute the firm's total manufacturing overhead cost.Prepare a schedule of inventory costs that shows total product costs, ending inventory, and cost of goods sold; andPrepare an income statement for the month ending September 30.