Question 2: ABC Corporation is a manufacturer company of furniture. The following information pertains to operation during the year 2021. (Currency unit: $) Sales 960,629 Administrative expenses 58,460 47,637 Selling expenses Direct labor costs 339,967 Indirect labor costs 82,137 Total depreciation in factories 20,687 Total Utilities costs 17,330 Other factory overhead costs 9,664 Of the total utilities costs, 80% relates to manufacturing overhead costs, 30% relates to selling and administrative costs. Following is information about various inventory components: Direct Indirect Work in process Finished goods materials materials Opening 51,673 3,672 80,912 82,844 balance Purchases 288,978 21,367 n/a n/a 54,155 4,781 62,938 103,567 Closing balance Required: 2.1 Prepare Statement of Cost of goods manufactured for the year ending 31 December 2021. 2.2 Prepare Statement of Cost of goods sold for the year ending 31 December 2021. 2.3 Calculate Earning before tax for the year ending 31 December 2021