17 The following costs and inventory data were taken from the accounts of Winsto Company for 2020: Inventories: Raw materials t of Work in process Finished goods Costs incurred: Raw materials purchases January 1.2020 December 31.2020 $8,000 $7,000 15,000 13,000 16,000 12,000 $88,000 Direct labour 42,000 Factory rent 8,000 Factory utilities 2,000 Indirect materials 4,000 (inventoried separately from other materials) Indirect labour 6,000 Selling expenses 5,000 Administrative expenses 12,000 Instructions a) Prepare a schedule showing the amount of direct materials used in production during the year. b) Calculate the amount of manufacturing overhead incurred during the year. c) Prepare a schedule of Cost of Goods Manufactured for Winsto Company for the year ended December 31, 2020 in good form. d) Prepare the Cost of Goods Sold section of the income statement for Winsto Company for the year ended December 31, 2020 in good form.