1.3 Lake Company recorded the following data for the month of January 2023: (Total: 21 marks) Inventories January 1, 2023 January 31, 2023 Direct Material $24,000 $23,000 Work in Process 18,000 15,000 Finished Goods 22,000 27,000 Additional Data: Net Sales Revenue Direct Labour Costs $325,000 40,000 Indirect Labour Costs 45,000 Sales Commissions 15,000 Administrative Expenses 18,000 Direct Materials Purchased during January 30,000 Depreciation, factory 10,000 Factory Maintenance and Supplies 8,000 Utilities, (80% factory, 20% office) 25,000 General Office Salaries 12,000 I Required: 1. Compute the amount of direct materials used in January. 2. List and total the Manufacturing Overhead costs for the month of January. 3. Compute the Cost of Goods Manufactured. Hint: It may be helpful to prepare a Cost of Goods Manufactured statement in rough form but it is not required. You may use short forms in your answers for DM, DL etc