available : Prepare the following :
(1) A cost of goods sold statement. For brevity, show single line items for factory overhead and direct materials used.
(2) Summary general journal entries to record;
(a) purchase of materials on account
(b) use of materials, including indirect materias of $2,000
(c) accrual of the factory payroll, including indirect labor of $5,000 (use a payroll clearing account)
(d) distribution of factory labor cots
(e) transfer of completed work to finished goods
(f) sales on account, at a markup equal to 75% of production cost