Satchel Industries' accountant has had to take a sudden medical leave. She was in the midst of preparing a schedule of cost of goods manufactured and an income statement for the year ended December 31, 2021, and had prepared the following T-Accounts for this purpose: Raw Materials Work in Process Beg bal 33,200 Beg bal 22,900 345,200 DM 276,160 346,800 DL 277,200 846,360 App MOH 316,800 End bal 34,800 End bal 46,700 MOH Finished Goods Beg bal 72,600 319,600 316,800 812,000 846,360 2,800 2,800 End bal 106,960 Cost of goods sold 812,000 2,800 Adj bal 814,800Additional information: a) Sales for the year totalled $1,680,000 b) Total salaries and wages for the year of $521,000 were incurred, including $277,200 in direct labour and $129,300 in indirect labour. c) Manufacturing overhead was applied at $16 per direct labour hour. d) Actual Manufacturing overhead consisted of indirect materials, indirect labour, depreciation on factory equipment $86,000 and factory utilities. d) Total operating expenses were $389,700 for the year. These consisted of salaries and wages, depreciation on administrative equipment $36,000, utilities, $17,800 and other expenses. e) The income tax rate is 16%.(vi) Prepare a schedule of Cost of Goods Manufactured for the year using the template below. Satchel Industries Schedule of Cost of Goods Manufactured year ended December 31, 2021 Direct Materials Beg RM Inventory Add: RM Purchases RM available for use Less: End RM Inventory RM used for production Less: Indirect Materials Direct Materials Direct Labour Manufacturing Overhead Indirect Materials Indirect Labor Dep Utilities Total Manufacturing Overhead Total Manufacturing Costs Add: Beg WIP Less: End WIP Cost of Goods Manufactured