20 2. The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed: Costs incurred: Direct labour cost.... Purchase of raw materials. Indirect labour..... Maintenance, factory equipment. Advertising expense... Insurance, factory equipment... Sales salaries.... Rent, factories facilities. Supplies ...... $ 70,000 118,000 30,000 6,000 90,000 800 50,000 20,000 4,200 Depreciation, office equipment. 3,000 Depreciation, factory equipment.. 19,000 Beginning of End of the Year the Year Inventories: Raw materials. $ 7,000 $ 15,000 Work in process. 10,000 5,000 Finished goods. 20,000 35,000 Required: 1. Prepare a schedule of cost of goods manufactured in good form. 2. Prepare the cost of goods sold section of Mason Company's income statement for the year. Page 1 of 3