[The following information applies to the questions displayed below.) The following data refer to San Fernando Fashions Company for the year 20x2: Sales revenue Work-in-process inventory December 31 Work-in-process inventory, January 1 Selling and administrative expenses Income tax expense Purchases of raw material Raw-material inventoryDecember 31 Raw-material inventory January 1 Direct labor Utilitiest plant Depreciation plant and equipment Finished-goods inventory December 31 Finished-goods inventory January 1 Indirece material Indirect labor other manufacturing overhead $1,000,000 30,000 32,000 150 000 70,000 170 000 25,000 20,000 200,000 140,000 40,000 50000 15,000 8000 12 000 80000 2. Prepare San Fernando Fashions' schedule of cost of goods sold for the year. SAN FERNANDO FASHIONS COMPANY Schedule of Cost of Goods Sold For the Year Ended December 31, 20x2 Finished hode inventory anar 1 $ 15 on Indirect labor Other manufacturing overhead 12,000 80,000 2. Prepare San Fernando Fashions' schedule of cost of goods sold for the year. SAN FERNANDO FASHIONS COMPANY Schedule of Cost of Goods Sold For the Year Ended December 31, 20x2 Finished goods inventory, January 1 $ Add: Cost of goods manufactured Cost of goods available for sale $ Less: Finished-goods inventory, December 31 Cost of goods sold $ 15,000 ST. 539,000 554,000 50,000 504,000