Question 4: (10 marks) (Sugget The following data were taken from the cost records of Morrey Company for last year: Raw Material purchases Direct Labor Indirect Labor Selling and administrative expenses Building Depreciation Other selling and administrative expenses Other factory costs Insurance Utilities costs $350,000 $508,000 $218,000 $266,000 $160,000* $380,000 $688,000 $50,000* $60.000* 75% of the company's building was devoted to factory production activities, the remainder was used for selling and administrative function. 60% of insurance expense was for factory production, the remainder was for administrative activities. 80% of utilities costs apply to factory operations, the remainder applies to selling and administrative activities Inventions at the beginning and at the end of the year were as follows: Raw Materials Work in Process Beginning $31,600 $71,400 Ending $36.400 $124.200 Inventories at the beginning and at the end of the year were as follows: Raw Materials Work in Process Finished Goods Inventory Beginning $31,600 $71,400 $222,200 Ending $36,400 $124,200 $195,800 Instructions: a. Prepare a schedule of Cost of Goods Manufactured for Morrey Company for the year ended December 31, 2020 in good form. (8 marks) b. Prepare the Cost of Goods Sold section of the Income Statement for Morrey Company for the year ended December 31, 2020 in good form. (2 marks) SAMSUNG