Required: 1. Compute prime cost and konversi cost 2. Compute inventorable cost and comersial cost 3. Compute product cost and period cost Compute Cost of good manufactured 5. Compute the Cost of Goods Sold 6. Compute Income Statement 4. Sales WIP Desember 31 2020 WIP January 1 2020 Selling expenses Administrative expenses Income tax expense Purchase of direct materials DM December 31.2020 DM January 1 Direct labor $ 250,000 $ 35,000 $70,000 $ 10,000 $ 50,000 $ 500,000 Indirect materials used Indirect labor Other FOH $85,000 $ 10,000 Insurance expense-factory Depreciation expense-factory FG December 31.2020 FG January 1.2020 $5,000 $ 20,000 $10,000 $ 15,000 $ 12,000 $ 18,000 $ 10,000 $ 15,000 $ 10,000