can you solve 1 and 2 please with clear explaniation

na w Gold Next Corporation manufactures fumitur te train the rive office the records for November of the war were parti destroyed you have been to other the following information from the feder CLC 001 50.00 O cons Mate CA000 wa T. w $45.000 OW cos $ 65.000 OR 2000 mer Act Patie a C 8 000 A Racks $ 000 205,000 E000 Gd $ 1.500 2050 You were able to gather the following additional information: Collections of accounts receivable during November amounted to $205,000 Sales revenue in November was 120 percent of cost of goods sold. All sales are on account. d Overhead is applied using an annual predetermined overhead rate using direct labor hours (based on practical capacity ESH LAKO 53 Amelteel d) The budgeted overhead for the current year is $720,000 5 15 e) Budgeted direct-tabor cost for the current year is $950,000. The direct laborate 320 per hour. The accounts payable balance on November 30 was $1,000. Only purchases of raw material are credited to accounts payable. A payment of $81,000 was made on November 15 8) November's cost of goods sold amounted to $180,000 h) The November 30 balance in finished goods inventory was 55.000 1) Payments of $79,500 were made to direct labor employees during November. The October 31 balance in the Wages Payable account was $1,000 The actual manufacturing overhead for November was $65.000 k) An analysis of the furniture still in process on November 30 revealed that so far these items have required 500 hours of direct labor and $20,500 of direct material Required [Show all your calculations to receive full points). T-Accounts are also in the Excel file. 1. Prepare a Schedule of Cost of Goods Manufactured 2. Prepare a Schedule of Cost of Goods Sold Hint: it may be useful to complete all the T-Accounts to solve the exercise na w Gold Next Corporation manufactures fumitur te train the rive office the records for November of the war were parti destroyed you have been to other the following information from the feder CLC 001 50.00 O cons Mate CA000 wa T. w $45.000 OW cos $ 65.000 OR 2000 mer Act Patie a C 8 000 A Racks $ 000 205,000 E000 Gd $ 1.500 2050 You were able to gather the following additional information: Collections of accounts receivable during November amounted to $205,000 Sales revenue in November was 120 percent of cost of goods sold. All sales are on account. d Overhead is applied using an annual predetermined overhead rate using direct labor hours (based on practical capacity ESH LAKO 53 Amelteel d) The budgeted overhead for the current year is $720,000 5 15 e) Budgeted direct-tabor cost for the current year is $950,000. The direct laborate 320 per hour. The accounts payable balance on November 30 was $1,000. Only purchases of raw material are credited to accounts payable. A payment of $81,000 was made on November 15 8) November's cost of goods sold amounted to $180,000 h) The November 30 balance in finished goods inventory was 55.000 1) Payments of $79,500 were made to direct labor employees during November. The October 31 balance in the Wages Payable account was $1,000 The actual manufacturing overhead for November was $65.000 k) An analysis of the furniture still in process on November 30 revealed that so far these items have required 500 hours of direct labor and $20,500 of direct material Required [Show all your calculations to receive full points). T-Accounts are also in the Excel file. 1. Prepare a Schedule of Cost of Goods Manufactured 2. Prepare a Schedule of Cost of Goods Sold Hint: it may be useful to complete all the T-Accounts to solve the exercise