Name 3. (22 points) Job Costing The following data have been taken from the accounting records of Rayburn Corporation for the current year. Assume all raw materials are direct materials. Sales $1, SAD DM used = Selling expenses 280 Factory overhead allocated 460 Direct labor 400 Administrative expenses 300 CGM = Purchases of direct materials 240 Finished goods inventory, beginning 240 Finished goods inventory, ending 320 Materials inventory, beginning 80 CGS = Materials inventory, ending 140 Work in process inventory, beginning 140 Work in process inventory, ending 100 Net income for the year: Use t-accounts to compute (a) the cost of direct materials used (b) the cost of goods manufactured and (c) the cost of goods sold. Show your work below and write your answers in the spaces provided above. Also compute (d) net income for the year and place your answer in the boxes above