PROBLEM 2: KAKAYANIN Corporation started three years ago. Operations were smooth until December 20 of this year, when their cost accountant, named Eye Gib Uff, went AWOL (absence without leave). The management was worried because all of the data in his possession was also lost. Then they decided to hire you to help them solve their problem. They were able to trace transactions and summarized them to the following but with some missing amounts: Credits ? Manufacturing Overhead Debits 385,000 Credits ? Raw Material 30,000 Bal. 1/1 Debits 420,000 Bal. 12/31 60,000 Work in Process Factory Wages Payable Bal. 1/1 70,000 Credits 810,000 Debits 179,000 Bal.1/1 Direct material 320,000 Credits 10,000 175,000 Direct labor 110,000 Overhead ? Bal. 12/31 6,000 Bal. 12/31 ? Finished Goods Cost of Goods Sold Bal. 1/1 40,000 Credits ? Debits ? Debits ? Bal. 12/31 130,000 REQUIRED: 1. How much of the factory labor cost for the year consisted of indirect labor? 2. What is the ending balance of Work-in-Process? 3. What was the cost of goods sold for the year?