The following data refer to Green Food Technology Ltd for the current year: Sales $3,200,000 Raw material inventory, 1 January 80,000 Purchases of raw material 1,000,000 Direct labour cost incurred 700,000 Other selling and administrative expenses 120,000 Indirect labour cost (60% for factory; 40% for selling & admin) 400,000 Other manufacturing expenses 150,000 Depreciation of building (80% for factory; 20% for selling & admin) 200,000 Depreciation of equipment (90% for factory, 10% for selling & admin) 160,000 Income tax expense 40,000 Indirect material used (all for factory) 30,000 Insurance on factory & equipment (70% for factory; 30% for selling & admin) 50,000 Electricity (75% for factory; 25% for selling & admin) 100,000 Work in process, 1 January 20,000 Finished goods inventory, 1 January 50,000 The company uses normal costing and manufacturing overhead is applied at the rate of 120% of direct labour cost. During the year, the company has adopted the just-in-time inventory management. As a result, the company carry no inventories at the end of the year. Required: (a) Compute the manufacturing costs incurred for the current year. (3 marks) (b) (c) Compute the cost of goods manufactured (COGM) for the current year. (1 mark) Calculate the manufacturing overhead variance. (5 marks) Compute the cost of goods sold (COGS) if the company closes overapplied or underapplied overhead cost into the cost of goods sold. (3 marks) (d)