13 Cost of goods manufactured, cost of goods sold and impact on financial statements LO3, 4, 5 The accounting information system of Bosch Inc reported the following cost and inventory data for the year. Costs incurred Raw materials purchased $125000 75000 Direct labour Indirect labour Equipment maintenance Insurance on factory Rent on factory Equipment depreciation Factory supplies Advertising expenses Selling and administrative expenses 40000 10000 12000 30000 20000 11000 15000 21000 Beginning Ending balance Inventories Raw materials Work in process Finished goods $10000 20000 30000 $17000 31 000 25000 Required a Calculate the cost of goods manufactured Calculate the cost of goods sold. List the costs not included in the calculations of cost of goods manufactured and cost of goods sold, and discuss why you excluded them from those calculations. b c d If raw materials and work in process inventories hacd decreased during the year, would the financial statements be different? How