Please complete in Excel or Word and upload to the Dropbox Question #1 The following information is available for Boat Lift Manufacturing Company for the year ended Dec 31, 2019: Sales Work in process - Jan 14 Work in process - Dec 315 Direct Materials Inventory - Jan 15 Direct Materials Inventory - Dec 31" Finished Goods Inventory - Jan 1" Finished Goods Inventory - Dec 315 Direct Materials Purchased Direct Labour Supervisory & Indirect Labour Administrative Salaries Supplies & Indirect Materials Heats/lights/power (65% for manufacturing plant) Amortization (75% for manufacturing plant) Property Taxes (70% for manufacturing plant) Administrative Costs Marketing Costs $300,000 21,000 18,500 22,500 17,800 35,500 14,200 31,800 54,000 24,700 38,500 5,200 30,600 38,000 10,100 9,750 27,100 Required: 1. Prepare a schedule of Cost of Goods Manufactured for the Year Ended December 31, 2019. (13 points) 2. Prepare an income statement for the year ended Dec 31, 2019. Make sure you show your cost of goods sold calculation. (12 points) Question 2 (10 points) The following report for Station Inc. details the direct labour costs & output levels for six months from January to June 2019. Month Units Produced January February March April May June 31,040 19,790 16,110 24,080 25,700 18,620 Direct Labour Costs $450,080 $301,910 $256,400 $345,920 $384,387 $259,510 Required: a. Estimate the cost function using the high low method. (6 points) b. Predict the direct labour cost that would be incurred during a month when 23,425 units are produced, (4 points)