Merchandise... inished goods Required 1. Compute the cost of goods sold section of the income statement at December 31, pany. Include the proper title and format in t tifying where each is reported on the inconm r instructor (a) identifying the inventory acom 2. Write a half-page memorandum to your e statement and balance sheet for both og roblem begins in Chapter I and continues through most of the book I ot completed, the serial problem can begin at this point. It is helpful, but the Working Papers that accompany the book.) SP 14 Santana Rey, owner of Business Solutions, decides to diversify her busines by aloeg ing computer workstation furniture. Required 1. Classify the following manufacturing costs of Business Solutions as either (a) variable r (b) direct or indirect. Variable or Fixed Direct or Product Costs Variable Fixed Direct I. Monthly flat fee to clean workshop. .. ..._ 2-Laminate coverings for desktops...........................- 3. Taxes on assembly workshop . . . 4. Glue to assemble workstation component parts.. 6. Electricity for workshop 7. Depreciation on tools