Cost and sales information for the most recent fiscal year are shown below: WALLACE RIVER COMPANY Cost and Sales Information For the Year Ended December 31 Purchases of raw materials Raw materials inventory, beginning Raw materials inventory, ending Depreciation, factory Insurance, factory Direct labour Maintenance, factory Administrative expense Sales $ 91,000 11,000 18,000 42,600 5,000 61,000 30,000 70,400 460,000 27,000 Supplies, factory 1,000 Selling expense 80,400 Advertising expense 20,400 Indirect labour, factory 65,000 Work in process inventory, beginning 7,000 Work in process inventory, ending 30,000 Finished goods inventory, beginning Finished goods inventory, ending 10,000 40,000 Utilities, factory Required: 1. Prepare a schedule of cost of goods manufactured. WALLACE RIVER COMPANY Schedule of Cost of Goods Manufactured For the Year Ended December 31 Direct materials: 13