QUESTION 5 (30 marks) The following information has been taken from the accounting records of KIM Corporation for 2009 Selling expenses - R 150.000 Raw matenals inventory. Jan 1 100,000 Raw material inventory, Dec 31 80,000 Utilities, factory 36,000 Direct labour cost 160,000 Purchase of raw materials 800,000 Sales 3,000,000 Insurance, factory 60, 000 Administrative expenses 2, 50,000 Indirect labour 3,000,000 Maintenance, factory 90,000 Work in process inventory, Jan 1 200,000 Work in process inventory, Dec 31 100,000 Finished goods inventory, Jan 1 280,000 Finished goods inventory, Dec 31 220,000 Required: a Prepare a schedule of cost of goods manufactured (calculate cost of goods manufactured) 1 b Cost of goods sold c Net operating income