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CoursHeroTranscribedText: The following cost and inventory data are taken from the accounting records of AlAmmary Company for the year just completed: Costs incurred: Direct labor cost .................................................................................... $70,000 Purchases of raw materials .................................................................. $118,000 Indirect labor ......................................................................................... $30,000 Maintenance, factory equipment ....................................................... $5,000 Advertising expense ............................................................................. $90,000 Insurance, factory equipment ............................................................. 800 Sales salaries .......................................................................................... $50,000 Rent, factory facilities ........................................................................... $20,000 Supplies, factory .................................................................................... $4,200 Depreciation, office equipment .......................................................... $3,000 Depreciation, factory equipment ....................................................... $19,000 . Beginning End of Inventories of the year the year Raw materials ................................................ $7,000 $15,000 Work in process ............................................. $10,000 $5,000 Finished goods ................................................ $20,000 $35,000 Required: 1. Prepare a schedule of cost of goods manufactured. 2. Prepare the cost of goods sold section of AIAmmary Company's income statement for the year

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