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During the accounting period, Munoz purchased $239,100 of raw materials and issued $248,100 of materials to the production department. Direct labor costs for the period amounted to $323,900, and manufacturing overhead of $46,900 was applied to Work i Process Inventory. Assume that there was no over- or underapplied overhead. Goods costing $612,000 to produce were completed and transferred to Finished Goods Inventory. Goods costing $601,700 were sold for $800,200 during the period. Selling and administrative expenses amounted to $70,900. Requlred a. Determine the ending balance of each of the three inventory accounts that would appear on the year-end balance sheet. b1. Prepare a schedule of cost of goods manufactured and sold. b2. Prepare an income statement. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods manufactured and sold. Complete this question by entering your answers in the tabs below. Prepare an income statement