Question 1 The following information pertains to the Satyam Company for the year ending December 31, 2019. s Hours Revenue 35,000 Interest payable 2300 Purchases of direct materials 14,000 Wages (factory] 5500 Beginning direct material 2850 Indirect Materials 5,000 Supplies expense [factory] 3,500 Supplies (factory] 9540 Depreciation of factory machines 3500 Depreciation of factory Plant 2300 Depreciation of shop 2,000 Unearned revenue 5620 Selling commission 2200 Marketing costs 4200 Wages Store) 6,000 Insurance expense (shop) 2300 Prepaid insurance Expense [store) 1450 Supplies expense [store] 5,000 Utilities (store] 2,500 Direct Labor Hours 2800 Hourly Rate for direct labour 16 Direct materials inventory Dec 31 2019 4,000 Work in process Jan 1 2019 3,000 Sales Return/ allowances 2100 Rent revenue 5,000 Work in process Dec 31 2019 5,000 Sales Discounts 3,000 Finished Goods Inventory Jan 1 2019 3,000 Finished Goods Inventory Dec 31 2019 2500 REQUIRED 1. Prepare a COGM statement for year end 2. Prepare an income statement assume interest tax rate to be 17%] for year end