Please help with number 2, prepare a Statement of Cost of goods Manufactured. Thank you.

Exercise for calculating production costs-job order No.: Name: Basin Products uses a job-order costing system. The company's inventory balances on Jan. 1, the start of its fiscal year, were as follows: Raw materials Work in process Finished goods $53000 33400 81000 During the year, the following transactions were completed: 1. Raw materials were purchased on account, $273 000. 2. Raw materials were issued from the storeroom for use in production, $320 000(75% direct and 25% indirect) 3. Employee salaries and wages were accrued as follows: direct labor, $370 000; indirect labor, $100 000, and selling and administrative salaries $85 000. 4. Utility costs were incurred in the factory, $107 000. 5. Advertising costs were incurred, $168 000. 6. Prepaid insurance expired during the year, $43 000(95% related to factory operations, and 5% related to selling and administrative activities) 7. Depreciation was recorded, $280,000(80% related to factory, and 20% related to selling and administrative assets). 8. Manufacturing overhead was applied to jobs at the rate of 150% of direct labor hour cost. 9. Goods that cost $1170 000 to manufacturing according to their job cost sheets were transferred to the finished goods warehouse 10. Sales for the year totaled $1560 000 and were all on account. The total cost to manufacturing these goods according to their job cost sheets was $1190 000. Required: 1. Prepare T-accounts for raw materials, work in process, manufacturing overhead, finished goods, cost of goods sold, selling and administrative expense, accumulated depreciation, and advertising expense. Record journal entries for the transactions and post the journal entries to T-accounts. 2. Prepare Statement of Cost of Goods Manufactured for the year as following form. Statement of Cost of Goods Manufactured Direct materials Beginning balance Purchase Available for use Ending balance Materials used Direct labor Overhead Total manufacturing costs of the year Beginning work in process Total manufacturing costs Ending work in process Costs of goods manufactured