Please fully complete the following question for a thumbs up.

Hokie Industries, producers of various types of carrying cases (phone, computer, luggage) from sustainable products, reported the following information for May, 2020: Beginning balance, Raw Materials Inventory $518,200 Beginning balance, Work in process Inventory 903.000 Beginning balance, Finished Goods Inventory 346,000 Purchases of raw materials 518,000 Direct labor payroll 362,000 Factory electricity 237,200 Depreciation on factory equipment 275,300 Insurance on factory building 182,000 Indirect materials used in production 98,400 Indirect labor payroll 359,600 Ending balance, Raw Materials Inventory 477,200 Ending balance, Work in process inventory 308,100 Ending Balance, Finished goods inventory 510,600 Required: (remember you must show your work to support each answer, otherwise there is no credit for your answer) 1. Find Cost of Goods Manufactured 2. Find Cost of Goods Sold