2 Q2. Modern Development Tech was newly formed in early 2020. The following information relates to the full year. Raw materials purchased (net) $10,500,000 Direct labor costs 7,000,000 Factory overhead 5,250,000 Selling, general & administrative 2,450,000 75% of the available raw material was transferred into production. 60% of the work in process was completed. 80% of the finished goods were sold. 15% of factory overhead related to depreciation. 25% of SG&A related to depreciation. a) How much is in ending inventory for (1) raw materials, (2) work in process, and (3) finished goods? b) How much is in (1) cost of goods sold and (2) SG&A expense for the period? (Total Marks = 6)