[Exercise 2.17] COGM, COGS Anglin Company, a manufacturing firm, has supplied the following information from its accounting records for the last calendar year: Combined Schedule of COGM & COGS DM: Beg. DM $ 37,200 + Purchase 386,390 - End. DM (34,600) DM used DL : : Supplies $ 18,500 Utilities 54,000 Superv. & IDL 165,000 Material handling 16,900 Direct labor cost $495,900 Purchases of DM 378,890 Included in Freight-in on materials 7,500 purchases Factory supplies used 18,500 MOH Factory utilities 54,000 MOH Sales commissions paid 78,983 Selling (go to I/S) Factory supervision & IDL 165,000 MOH Advertising 145,600 Selling (go to I/S) Material handling 16,900 MOH WIP inv., Jan. 1 201,000 WIP inv., Dec. 31 117,400 DM inv., Jan. 1 37,200 DM inv., Dec. 31 34,600 FIG inv., Jan. 1 59,200 F/G inv., Dec. 31 62,700 $ 388,990 495,900 Total MC + Beg. WIP - End. WIP COGM + Beg. FIG - End. F/G COGS 254,400 $1,139,290 201,000 (117,400) $1,222,890 59,200 (62,700) $1,219,390 Required: 1. Prepare a COGM statement. 2. Prepare a COGS statement