Lala Company is a manufacturer of computers. Its Financial controller resigned in January 2022. An inexperienced assistant accountant has prepared the following income statement for the month of January 2022. Lala Company Statement of Comprehensive Income For The Month Ended 31 January 2022 RM Sales (net) RM 780,000 Less: Operating Expenses Raw materials purchases 264,000 Direct labor 190,000 Advertising expense 90,000 Selling and administrative salaries 75,000 Rent on factory facilities 60,000 Depreciation on sales equipment 45,000 Depreciation on factory equipment 31,000 Indirect labor 28,000 Utilities expense 12,000 Insurance expense 8,000 803,000 Net Operating Loss (23,000) Prior to January 2022, the company had been profitable every month. The company's president is concerned about the accuracy of the income statement. As her friend, you have been asked to review the income statement and make necessary corrections. After examining other manufacturing cost data, you have required additional information as follows: i. i. Raw materials Work in process Finished goods 1 January (RM) 31 January (RM) 18,000 34,000 16,000 14,000 30,000 48,000 Only 70% of the utilities expense and 60% of the insurance expense apply to the factory operations. The remaining amounts should be charged to selling and administrative activities. 2 MKM 1033 INTRODUCTION TO MANAGEMENT ACCOUNTING Required: A. Prepare a schedule of cost of goods manufactured for January 2022. B. Prepare a Statement of Comprehensive Income for January 2022.