The HASF Corporation manufactures one product and accounts for costs by a job orders cost system You have obtained the following information for the year ended December 31 2010 from the Corporations books and records Total manufacturing cost added during 2010 was 1,000,000 Cost of goods manufactured was 970,000 Factory overhead was applied to work in process inventory at 55% of direct labor (applied factory overhead for the year 45% of the total manufacturing cost) Beginning work in process inventory January 1 was 30% of ending work-in December 31 Required 1. Prepare a formal statement of cost good manufactured 2. Prepare journal entries reflecting the above transactions - process inventory