Identify Cost of Goods Manufactured

Iidentify Cost of Goods Manufactured for the period and create an income statement for August 2014.Statement of Cost of Goods Manufactured and Income StatementInformation from the records of the Valley Manufacturing Company for August 2014 follows:Sales …………………………………………………………………………………$210,000Selling and administrative expenses …………………………………. 85,000Purchases of raw materials…………………………………………………30,000Direct labor ………………………………………………………………………..20,000Manufacturing overhead…………………………………………………….37,000                                                                               Inventories                                                                          August 1        August 31Raw materials ………………………………………. $ 8,000        $ 5,000Work-in-process …………………………………….. 14,000       11,000Finished goods ……………………………………… 15,000         19,000