1. Prepare a Cost of Goods Manufactured Statement, A Cost of Goods Sold Statement and a Manufacturing Income Statement for Temperance's Tee Shirts for July: Beginning Raw Materials Inventory $400,000 Erding Raw Materials Inventory $300,000 Beginning Work in Process Inventory $500,000 Ending Work in Process Inventory $300,000 Beginning Finished Goods Inventory $450,000 Ending Finished Goods Inventory $200,000 Raw Material purchases $800,000 Sales $5,000,000 Direct labor $700,000 T Indirect Labor $40,000 Indirect Material $30,000 Selling, General and Administrative expenses $2,000,000 Factory Rent $10,000 Factory Utilities $20,000