Question 1. (4 Marks) Case 1 (3 Marke All Majid Company's compilation of cost accounting data disclosed the following: The inventory of raw materials on January 1, 2019 amounted to $300; indirect labor was $40,000; factory supervision was $20,000; factory machinery depreciation was $60,000; advertising expenses were $40,000rect materials related to production were $15,000; maintenance related to factory 25,000, Finished goods inventory beginning 80,000, Depreciation orice equipment was $80,000; maintenance building 30,000, factory utilities $20,000, work in process inventory ending 30,000, Finished goods inventory ending 20,000, raw material purchases 300,000; other indirect materials 50,000, sales commissions were $40,000, the direct labor cost was $120,000, the inventory of raw materials at the end of the year, December 31, 2019 amounted to $40,000, the beginning work in process inventory was 40,000 and the sales revenue was $2,000,000. Required: Prepare Ali Majid Company's Statement of Cost of Goods Manufactured Answer: B 1 El U UD X2 . x lule H. M . I C e to search ED - C