Mustafa Manufacturing Company began operations on January 1.During the year, it started and…

Mustafa Manufacturing Company began operations on January 1.During the year, it started and completed 3,000 units of product.The financial statements are prepared in accordance with GAAP. Thecompany incurred the following costs: Raw materials purchased andused—$6,200. Wages of production workers—$7,400. Salaries ofadministrative and sales personnel—$3,000. Depreciation onmanufacturing equipment—$4,400. Depreciation on administrativeequipment—$2,200.

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