AB D 2 3 4 S Question 3 Preparation of a Schedule of Cost of Goods Manufactured and Cost of Goods Sold Fazloen Limited provided the following information for the year ended December 31: 7 8 9 10 11 12 3 4 5 Costs incurred: Marketing expense Depreciation, manufacturing equipment Depreciation, ofte equipment Direct labour cost Indirect labour Raw material purchases Rent, manufacturing building Repairs, manufacturing equipment Sales commissions Supplies, manufacturing, Utilities, manufacturing $ 600,000 144.000 48.000 540.000 $ 337,800 792.000 480.000 240,000 $ 210,000 4.200 54,000 Inventories: Raw materials Work in process Finished goods Beginning of Year $ 48,000 $ 30,000 $ 420,000 End of Year $ 60,000 $ 120,000 $ 150,000 1. Prepare a schedule of cost of goods manufactured 26 27 28 29 30 31 32 33 34 35 FAZLOEN LIMITED Schedule of Cost of Goods Manufactured For the year ended December 31 36 37 8 45 46 17 38 2 2. Prepare the cost of goods sold section of Fazloen Limited's income statement for the year