$22 Part 1 The Lotion Company makes a single product. The following information has been taken from the company's production, sales, and cost record for December 31st. DATA: Production in units 29,000 Sales in units 27,000 Beginning Finished Goods in Units 1,000 Ending Finished goods in units 3,000 Unit selling price End of the year- Beginning of the month December 31, December 1, 20XX 20XX Inventories: Raw Materials $15,000 $10,000 Work in process $25,000 $26,000 Finished goods $12.000 $15,000 Costs: Direct labor $71,500 Raw materials purchased $150,000 Variable Overhead $30,000 Fixed Overhead $20,000 Selling expenses $100,000 Administrative expenses $25,000 Required: There are 4 questions to this part that you will need to answer below. #1: Use the Data information above to prepare a Statement of Cost of Goods Manufactured in good form like the example from Cornerstone 2.2 using only Excel cell referencing. #2: Compute the cost of producing one Lotion last month. Compute your answer using cell references. #3: Use the Data information above to prepare a Statement of Cost of Goods Sold in good form like the example from Cornerstone 2.3 using only Excel cell referencing. Lotion Company Statement of Cost of Goods Sold For the Month ended December 31, 20XX #4: Use the Data information above to prepare an Income Statement in good form like the example from Cornerstone 2.4 using only Excel cell referencing. Include a column showing the percent of each line item of sales. (Round your percentage answers to two significant digits, for example, 32.24%)