An analysis of the accounts of Chelsea Manufacturing reveals the following manufacturing cost data for the month ended August 31, 2021. (30 mark) Inventories Beginning Ending Raw Material $ 10,000 $ 13,100 Work in Process. 50,000 13,000 Finished Goods 10,000 6,000 Costs incurred: Raw Material Purchased. $ 64,000 Direct Labour 57,000 Manufacturing Overhead 22,900

The specific overhead costs were as follows: Indirect labour ..................... $ 7,500 Factory Insurance ................... 4,000 Machinery Depreciation ......... 5,000 Machinery Repairs ................. 1,800 Factory Utilities ...................... 3,100 Miscellaneous Factory ............. 1,500 Assume that all raw materials used were direct materials. Requirements i) Prepare the cost of goods manufactured schedule for the month ended August 31, 2021. ii) Show the presentation of the ending inventories on the August 31, 2021.