1. Crafted Furniture Lid. Incurred the following actual costs during the year just ended: Direct materials used RM412,500 Direct labour 180,000 Manufacturing overhead 278,000 The inventory balances on January 1, were as follows: Work-in-process (WIP) 58,500 Finished goods (FG) 63,000 Each of these balances was 10% higher at the end of the year. Required: a. Prepare a schedule of Cost of Goods Manufactured (COGM). b. What was the cost of goods sold (COGS) for the year