20 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. Depreciation, office equipment. Depreciation, factory equipment. Inventories: Raw materials Work in process Finished goods. $ 70,000 118,000 30,000 6,000 90,000 800 50,000 20,000 4,200 3,000 19,000 Beginning of End of the Year the Year $ 7,000 $ 15,000 10,000 5,000 20,000 35,000 I 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.