During April, 7,000 machine hours were used. L. m. Sales on account for April amounted to $176,000. The cost of goods sold in April was $139,000. Problen The following data refers to Huron Corporation for the year 20x2. Schedule of 45,000 Manufacture 60,000 Income Stat 40,000 (LO 3-5,3 2,105,000 Indirect material used Sales revenue 89,000 Depreciation on factory equipment.... 731,000 Insurance on factory and equipment . 59,000 Utilities for factory. Raw-material inventory 12131x 1 Purchases of raw material in 20x2 Raw-material inventory, 12/31/2. 70,000 2. Cost of g 0 (adjusted fo 40,000 overhead 35,000 Work-in-process inventory, 12/31/x1 474,000 Direct-labor cost incurred Selling and administrative expenses269,000 Work-in-process inventory, 12/312 150,000 Finished-goods inventory, 12/3 11t 90,000 Finished-goods inventory. 12/31/2 25,000 Applied manufacturing overhead ent Indirect labor cost incurred 40,000 Property taxes on factory 577,500 Depreciation on factory building 25,000 Income tax expense Required: Prepare Huron's schedule of cost of goods manufactured for 20x2. Prepare the company's schedule of cost of goods sold for 20x2. The company closes overapplied or underapplied overhead into Cost of Goods Sold. Prepare the company's income statement for 20x2. 1. 2. 3. Build a spreadsheet: Construct an Excel spreadsheet to solve all of the preceding requirements Show how the solution will change if the following data change: sales revenue was $2,115,000, applied manufacturing overhead was $580,000, and utilities amounted to $78,000. 4. Proble Refer to the schedule of cost of goods manufactured prepared for Huron Corporation in the preceding problem. Interpretir Cost of Go (LO 3-2, 2 Required