In-Class Assignment 4 - Chapter 18 Name The following account balances and other information are from SUNN Corporation's accounting records for the year-end December 31, 2019. Use this information to prepare (1) a table listing factory overhead costs, (2) a schedule of cost of goods manufactured (show only the total factory overhead cost), and (3) an income statement. Advertising Expense Amortization Expense - Factory Patents Bad Debt Expense Depreciation Expense - Office Equipment Depreciation Expense - Factory Building Depreciation Expense - Factory Equipment Direct Labor Factory Insurance used up Factory Supervisor Salary Factory Supplies Used (Indirect Materials) Factory Utilities Finished Goods Inventory, Dec. 31, 2018 Finished Goods Inventory, Dec. 31, 2019 85,000.00 16,000.00 28,000.00 37,000.00 133,000.00 78,000.00 250,000.00 62,000.00 74,000.00 21,000.00 115,000.00 15,000.00 12,500.00 Work In Process Inventory, Dec 31, 2018 Work In Process Inventory, Dec. 31, 2019 Income Taxes Indirect Labor Interest Expense Miscellaneous Expense Property Taxes on Factory Equipment Raw Materials Inventory, Dec. 31, 2018 Raw Materials Inventory, Dec. 31, 2019 Raw Materials Purchases (Direct Materials) Repairs Expense - Factory Equipment Salaries Expense Sales 8,000.00 9,000.00 53,400.00 26,000.00 25,000.00 55,000.00 14,000.00 60,000.00 78,000.00 313,000.00 31,000.00 15,000.00 1,630,000.00 1) Analyze the account balances and select those that are part of factory overhead costs and arrange the costs in a table that lists factory overhead costs for the year. 2) Prepare a schedule of cost of goods manufactured for the year showing the calculation of the cost of direct materials used in production, the cost of direct labor and the total factory overhead cost. Assume that only direct materials costs flow through the Raw Materials Inventory Account. When presenting overhead cost on this statement, report only total overhead cost from the table of overhead costs for the year. Show the costs of beginning and ending work in process inventory to determine cost of goods manufactured. 3) Organize the remaining revenue and expense items into the income statement for the year. Combine cost of goods manufactured from the schedule of cost of goods manufactured with the finished goods inventory amounts to compute cost of goods sold for the year