The accounting department at Mansbridge Inc. prepared the following income statement for t Sales Purchases of materials (1) Payroll (2) Advertising Administrative travel Manufacturing utilities Facility rental (3) Depreciation (4) Sales commissions Annual Manufacturing insurance (5) Office utilities Management salaries (6) Net income $1,455,600 254,440 269,700 38,600 29,200 52,600 90,000 66,700 57,000 56,000 24,000 404,000 $ 113,360 Notes: (1) 80% of the materials were direct (2) 70% direct labour, 30% indirect labour (3) 90% related to manufacturing (4) 70% related to manufacturing (5) This is a statement for the quarter. (6) 30% related to manufacturing The department also compiled the following information with respect to inventories for the qu maintain inventories of indirect materials). Direct materials Work in process Finished goods Beginning $ 7,670 8,870 12,080 Ending $ 9,140 10,400 7,900