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:
$\begin{array}{lrr} \text { Administrative costs } &\$30,000\\ \text { Depreciation on factory equipment} &12,000\\ \text {Indirect materials } &2,000\\ \text {Marketing and distribution costs } &24,000\\ \text {Salaries for factory supervisors } &20,000\\ \text { Wages for production worker's } &26,000\\ \text { Raw materials used } &38,000\\ \text { Sales revenue } &196,000\\ \text {Selling costs } &18,000\\ \text {Utilities for production facilities } &8,000\\\\ \text {Number of units produced } &20,000\\ \text { Number of units sold} &15,000\\\end{array}$

Required:
1)Compute the firm's total manufacturing overhead cost.
2)Prepare a schedule of inventory costs that shows total product costs,ending inventory,and cost of goods sold; and
3)Prepare an income statement for the month ending September 30.