Question 7 xteks Corporation has the following cost records for the year ended December 31, 2020 Indirect factory labour Direct materials used Work in process (1/1/2020) $5,480 253,600 31,000 27,200 35,300 29,100 41,500 Work in process (12/31/2020) Finished goods (1/1/2020) Finished goods (12/31/2020) Factory utilities Depreciation, factory equipment Direct labour 34,400 303,300 Indirect materials Factory manager's salary Selling and administrative expenses Net sales Factory machinery rent 22,600 63,100 341,300 1,243,000 42,900 Prepare a cost of goods manufactured schedule for 2020. Axteks Corporation Cost of Goods Manufactured Year Ended December 31, 2020 Work in Process, December 31 Direct Materials Used Direct Labour s 27,200 253,600 epare an income statement for 2020. (Enter negative amounts using either a negative sign preceding the number e.g Axteks Corporation Income Statement LINK TO TEXT