BirchWood Industries' accountant has had to take a sudden medical leave. She was in the midst of preparing a schedule of cost of goods manufactured and an income statement for the year ended December 31, 2021, and had prepared the following T-Accounts for this purpose: Raw Materials Work in Process Beg bal 27,700 Beg bal 28,900 342,000 DM 273,600 346,800 DL 257,400 830,000 App MOH 316,800 End bal 32,500 End bal 46,700 MOH Finished Goods Beg bal 72,600 324,900 316,800 812,000 830,000 8,100 8,100 End bal 90,600 Adj bal Cost of goods sold 812,000 8,100 820,100 Additional information: a) Sales for the year totalled $1,680,000 b) Total salaries and wages for the year of $512,000 were incurred, including $257,400 in direct labour and $124,200 in indirect labour. c) Manufacturing overhead was applied at $16 per direct labour hour. d) Actual Manufacturing overhead consisted of indirect materials, indirect labour, depreciation on factory equipment $86,000 and factory utilities. d) Total operating expenses were $397,800 for the year. These consisted of salaries and wages, depreciation on administrative equipment $36,000, utilities, $17,800 and other expenses. e) The income tax rate is 16%. Direct Materials Beg RM Inventory Add: RM Purchases RM available for use Less: End RM Inventory RM used for production Less: Indirect Materials Direct Materials Direct Labour Manufacturing Overhead Indirect Materials Indirect Labor Dep Utilities Birchwood Industries Schedule of Cost of Goods Manufactured year ended December 31, 2021 Total Manufacturing Overhead Total Manufacturing Costs Add: Beg WIP Less: End WIP Cost of Goods Manufactured