What is the Beginning of the Year Work in Process Cost. What is the Purchases of Raw Materials Cost? Based on the Information below Ending of the Year Work in Process = $20,000 Beginning of the Year Raw Materials = $30,000 Ending of the Year Raw Materials = $10,000 Beginning of the Year Finished Goods = $20,000 Ending of the Year = $50,000 Total Manufacturing Costs of the Year = $753,000 Total Costs of Goods Sold of the Year = $740,000 COGM = $770,000 The following are account balances at the end of the year: Indirect Labor = $60,000 Direct Labor = $73,000 Selling and Administrative Salaries = $110,000 Insurance, Factory = $8,000 Utilities, Factory = $65,000 Purchases of Raw Materials = NOT GIVEN Advertising Expense = $70,000 Cleaning Supplies, Factory = $7,000 Sales Commissions = $50,000 Rent, Factory Building = $90,000 Maintenance, Factory = $40,000 Based on all the information; Prepare a Schedule of Cost of Goods Manufactured in good form and the Cost of Goods Sold section of the company's income statement of the year