QUESTION ONE (20 Marks) The following data for the just completed year ended September 30, 2021 are taken from the accounting records of Deliverance Company: Advertising expense $ 200,000 Direct labour cost 180,000 Purchases of raw materials 284,000 Rent building (60% factory, 40% offices) 100,000 Indirect factory labour 112,600 Sales commissions 90,000 Utilities, factory 28,000 Office Salaries 120,000 Maintenance, factory equipment 48,000 Sales 1,450,000 Supplies, factory 1,400 Depreciation, office equipment 16,000 Depreciation, factory equipment 80,000 Inventories Beginning Ending Raw materials $20.000 $ 24.000 Work in process 30.000 60,000 Finished goods 180,000 80,000 Required: 1. Prepare a schedule of cost of goods manufactured for the year in good form. (10 marks) Answer parts 1 and 2 in the space provided on page 2. 2. Prepare an income statement for the year in good form. (8 marks) 3. What are the total conversion costs for the year? (2 marks) Pg. 2 Question One Answer Sheet-Cost of Goods Manufactured Schedule Pg.3 Question One Answer Sheet-Income Statement