On 1 August 2021, Ross Corporation had the following account balances: Materials inventory Work-in-Process inventory Finished Goods inventory R72 000 R108 000 R24 000 During August, the following transactions took place: a. b. C. d. e. 199 f. g. h. 195 Materials purchased on account, R570 000. Direct material (R121 200) and indirect material (R15 000) were issued to production. Factory payroll consisted of R180 000 for direct labour employees and R42 000 for indirect labour employees. Office salaries totaled R144 600 for the month. Utilities of R40 200 were accrued; 70% of the utilities cost is for the factory. Depreciation of R60 000 was recorded on plant assets; 80% of the depreciation is related to factory machinery and equipment. Rent of R66 000 was paid on the building. The factory occupies 60% of the building. At the end of August, the Work-in-Process inventory balance was R49 800. i. At the end of August, the balance in Finished Goods inventory was R53 400. Required: 2.1 Prepare the schedule for cost of goods sold. 2.2 Calculate the total product costs. 2.3 Calculate the total period costs. (13) (2) (5)