Part 1 Shades of the Caribbean design and manufacture sun-glasses for the tourism sector. The accounting records of the business reflect the following data at June 30, 2018: Inventory Raw Materials 1/7/2017 30/6/2018 $230,000 $260,000 Factory Supplies $35,000 $24,000 Work in Progress $358,000 $213,000 Finished Goods $975,400 $585,000 Other information: Sales Revenue Factory Supplies Purchased Direct Factory Labor Raw Materials Purchased Plant janitorial service Depreciation: Plant & Equipment $5,675,000 64,000 792,000 560,000 37,000 186,000 Total Utilities 1 481,250 Production Supervisor's Salary 450,000 Hiring of Specialized Manufacturing Equipment 68,000 Insurance on Plant & Equipment 112,000 Delivery Vehicle Drivers' Wages 189,000 Depreciation: Delivery Vehicle 53,850 Property Taxes 2 240,000 Administrative Wages & Salaries 850,750 Advertising Expenses 1% of Sales Revenue 1 Of the total utilities, 80% relates to manufacturing and 20% relates to general and administrative costs. 2 The property taxes should be shared: 75% manufacturing & 25% general & administrative costs Required: (A) Calculate the raw material & factory supplies used by Shades of the Caribbean. (B) What is the total manufacturing overhead cost incurred by Shades of the Caribbean during the period? (C) Determine the prime cost & conversion cost of the product manufactured. (D) Prepare a schedule of cost of goods manufactured for the year ended June 30, 2018, clearly showing total manufacturing costs & total manufacturing costs to account for. (E) Prepare an income statement for the year ended June 30, 2018, clearly showing the calculation of Cost of Goods sold. List the non-production overheads in order of size starting with the largest.