Work the following accounting cycle problem on the Excel file provided. You will be asked a series of questions on D2L that you should answer based on your work. Submit your work on the Excel file through the dropbox on D2L. Name the Excel file as YourLastName-FirstName-Summer 2022. Your LastName (e.g., Novin) Manufacturing Company is using a standard cost accounting system to record and report on manufacturing costs in regard to its single product called Z-Device manufactured in a single production department. Company's Chart of Accounts as of January 1, 2021, was as follow. Account Debit Credit Cash Accounts Receivable 155,400 36,000 RM Inventory 24,000 WIP Inventory 160,000 FG Inventory 80,000 Supplies 58,000 Prepaid Insurance 28,000 Equipment 510,000 Accumulated Depreciation-Equipment 96,250 Building 400,000 Accumulated Depreciation-Building 150,000 Land 70000 Accounts Payable 53,000 Common Stock, par $10 990,000 Retained Earnings 232,150 Total 1,521,400 1,521,400 Before the start of 2021, the company developed the following standards for its manufacturing costs. Raw materials Direct labor Variable overhead Fixed overhead Budgeted fixed overhead cost Budgeted production units for year 2.5 pounds at $12 per pound 1.5 hours at $11.70 per hour 1.35 MH @ $7 per MH 1.35 MH @ $6 per MH $178,200 22,000 units The transactions incurred in 2021 were as follows: #1. Paid advertising expense, $1,000 #2. Collected $12,000 of accounts receivable. # 3. Purchased 80,000 pounds of RM at $12.25 per pound on account from Rose Company. # 4. Paid $13,472 for oil change and maintenance of factory machines (variable overhead) #5. Purchased equipment in cash for factory use, $15,000