Problem 3 (100 points) Parky Co. manufactured 100,000 units of Wood Tables in 20X9 and reported the following costs: Direct labor Direct materials, 1/1/X9 Direct material purchases Direct materials, 12/31/X9 Finished goods, 1/1/X4 Finished goods, 12/31/X9 2,176,000 Utility-plant $ 32,000 320,000 22.400 275,200 Salary for plant manager 275,200 384,000 Nails 3,136,000 Glues & lubricants 672,000 Property taxes- plant Compensation for Sales 32,000 1,280,000 staff 640,000 Work-in-process, 1/1/x9 96,000 Depreciation-store 576,000 64,000 Advertising costs Work-in-process, 12/31/X9 480,000 Leasing costs -plant S 384,000 Administration costs- tore 600,000 Depreciation -plant Fire insurance-plant 224,000 Ulitystore 16,000 Sales revenue 200,000 12,800,000 Required: a. What is the amount of direct materials used during 20X9? (20 points) b. Prepare a cost of goods manufactured schedule for 20x9.(25 points) c. Prepare an income statement for 20X9 (25 points) On the assembly floor, Jay is paid $20 an hour for straight-time and $30 an hour (time and a half) for overtime. One week, Jay worked 46 hours, which included 6 hours of overtime. During the same week, 4 hours of idle time was caused by material shortages. d. What amount of compensation for Jay would be reported as direct labor cost and manufacturing overhead cost, respectively? (30 points)