Question 1 Darcy Hill is the controller for Spry Manufacturing Ltd. in London, Ontario. Darcy just finished a phone call with the chief financial officer (CFO) of the company, who is attending a meeting with executive management at a Toronto convention centre. He asked that Randy plan to come to Toronto that evening and attend a meeting early the following morning. The CFO also asked him to bring with him all of the financial data required to generate T-accounts (for raw materials inventory, factory overhead, work-in-process inventory, and finished goods inventory), a schedule of cost of goods manufactured, a statement of cost of goods sold, and an income statement for the just-completed month of January. This information would be needed in the meeting. Darcy quickly ran a report with all of the information he felt was necessary to create the reports his boss had requested. He put the financial information in his briefcase and left for Toronto immediately to avoid the poor weather that was on its way. Darcy was sure he would have lots of time in his hotel room in the evening to generate the required reports. However, when he arrived in his hotel room and pulled out the information, he was alarmed to find that some important pieces of information were missing. Darcy made a list of all the data he had plus what he needed. For those categories with missing data, the number field has a question mark. The following is the list that Darcy generated: $172,455 226,120 5,265 420 6,250 3,350 16,100 15,200 28,100 Balances and Transactions Direct materials used Direct labour Factory rent Repairs and maintenance - production Salary - production manager's salary Indirect materials used Beginning raw materials inventory Ending raw materials inventory Beginning work-in-process inventory Ending work-in-process inventory Beginning finished goods inventory Ending finished goods inventory Sales Sales returns and allowances Net sales Cost of goods manufactured Goods available for sale Cost of goods sold Gross margin Indirect labour Depreciation - production equipment Selling expenses Administrative expenses Raw materials purchased Estimated annual overhead Fatimated annual direct labour Predermined overhead role 49,120 1,140,000 143.800 439,550 494.695 550.625 5.650 16.900 170,975 110,730 39,100 230,000 Spry Manufacturing uses normal costing and applies overhead on the basis of direct labour dollars. Required: Prepare the data required by the CFO and calculate the missing data while preparing the T- accounts and the required schedule and statements