4) Presented below is data from partially completed ledger accounts and additional information for the Channing Manufacturing Company for the year 2020. Account Opening Balance Ending Balance Raw Materials $20,000 $50,000 Work-in-Process $15,000 ? Finished Goods $20,000 $45,000 Manufacturing Overhead $0 Additional Information: 1. Direct manufacturing labour wage rate was $15.00 per hour. 2. Manufacturing overhead is allocated at 80% of direct labor cost. 3. During the year, sales revenues were $1,000,000, and marketing and distribution expenses were $150,000. 4. Total direct labour hours used for the period was 20,000 hours. 5. Total debit entries to Raw Materials account during year $300,000. 6. Total credit entries to the Work-In-Process Inventory account during the year was $750,000. 7. Total debit entries to Manufacturing Overhead during the year $80,000. 9. Administrative expenses were $200,000. a) What was the amount of direct materials purchased during 2020? b) What was the amount of direct materials issued to manufacturing during 2020? c) What was the total amount of direct labor cost for the year? d) What was the amount of manufacturing overhead allocated to jobs during 2020? e) What was the cost of jobs completed during 2020? f) What was the balance in Work-in-Process inventory on December 31, 2020? g) What was the underapplied or overapplied manufacturing overhead in 2020? h) What was the Cost of Goods Sold in 2020? i) What was Net Income (Loss) in 2020