1. Prepare a cost of goods manufactured, a cost of goods sold and a munufacturing income statement for Cara's Candies for the month of July: Beginning Raw materials inventory $300,000 Beginning work in process inventory 2125,000 Beginning Finished Goods Inventory $200,000 Ending Raw Materials Inventory $350,000 Ending Work in Process Inventory $400,000 Ending Finished Goods Inventory $340,000 Direct Labor $600,000 Indirect material $30,000 Indirect Labor $50,000 Selling, General and Administrative expenes. $1,000,000 Factory Rent $50,000 Factory Depreciation $40,000 Sales Revenue $4,000,000. Raw Material purchases $500,000