Problem 1 The following information pertains to Mimi's Mini Treats Manufacturing Company: - The sales price is determined by adding a 40% mark-up to the cost of inventory. - For the expenses above, 80% of the wages relate to hands-on labour in the factory, and half (50%) of the utilities and depreciation relate to the factory. Required- a) How much raw material was purchased during 207 ? b) Prepare a schedule of cost of goods manufactured for 20x7, using actual manufacturing overhead. c) What amount of gross profit would show on Mimi's income statement for 207 ? Please show your work