1. Assume you have just taken a position as controller for a new manufacturer company in Kuantan, Malaysia. The founder of the company, who is the president and CEO has very limited knowledge of accounting. Required: Help your new boss to better understand accounting for a manufacturing organization. Prepare a response in which you: (1) identify, (2) describe, and (3) provide examples of the three manufacturing costs and the three inventory accounts used in accounting for a manufacturing company. You may create any types of manufacturer company as example to support your answer. 2. Given below are selected account balances of Koorsec Manufacturing Company for the year 2019: Finished Goods Inventory Work in Process Inventory Raw Materials Inventory Sales Direct Labour Factory Supervisory Salaries Income Tax Expense Factory Insurance Raw Material Purchases Administrative Expenses Sales Returns and Allowances Factory Depreciation Indirect Labour Selling Expenses 1 January 2019 31 December 2019 RM RM 30.000 34,000 44,000 42,000 26,000 38,000 760,000 86,000 34,000 64,000 36,000 186,000 24,000 6,000 16,000 28,000 88,000 Required: Prepare a schedule of cost of goods manufactured for the year ended 31 December 2019