1.Sandy Ltd. had incurred $111,000 of direct labor costs during 2015. There were no beginning material but $78,000 was purchased and $3,000 remained at the end of the period.Indirect labor amounted to $5,100 while other operating costs pertaining to the factory included utilities of $10,100; maintenance of $12,500; repairs of $5,300; depreciation of $27,300.The sales salary was $60,000 and the CEO salary was $120,000. There $1,500 beginning and no ending finished goods. The Work-in-Process account reflected a balance of $22,500 at the beginning of the period and $16,500 at the end of the period.

Requirement:

a)Identify the inventory(ies) that Sandy Ltd. has.(3 points)

b)Make a Schedule of Cost of Goods Manufactured for Sandy Ltd for the period Dec. 31^st 2015.(10 points)

c)Identify the period costs.(2 points)

d)Explain 5 differences between managerial and financial accounting.(5 points)