The administrative offices and manufacturing plant of Oakdale Tool & Die share the same building. The following information (in $000s) appears in the accounting records for last year:
Administrative costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,800
Building and machine depreciation
(75% of this amount is for factory) . . . . . . . . . . . . . . . . . . . . . 2,700
Building utilities (90% of this amount is for factory) . . . . . . . . . 3,750
Direct labor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,520
Direct materials inventory, December 31 . . . . . . . . . . . . . . . . . . 42
Direct materials inventory, January 1 . . . . . . . . . . . . . . . . . . . . . 36
Direct materials purchases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,950
Factory supervision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,470
Finished goods inventory, December 31 . . . . . . . . . . . . . . . . . . 195
Finished goods inventory, January 1 . . . . . . . . . . . . . . . . . . . . . 162
Indirect factory labor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,736
Indirect materials and supplies. . . . . . . . . . . . . . . . . . . . . . . . . . 2,055
Marketing costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,613
Property taxes on building
(80% of this amount is for factory) . . . . . . . . . . . . . . . . . . . . . 2,520
Sales revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38,910
Work in process inventory, December 31 . . . . . . . . . . . . . . . . . 87
Work in process inventory, January 1 . . . . . . . . . . . . . . . . . . . . 96
Required
Prepare an income statement with a supporting cost of goods sold statement.