Module 2: Home Run Practice Problem! Sales $950 His for Home Run Purchases of raw materials $170 Direct labor $210 Manufacturing overhead $200 Administrative expenses $180 Selling expenses $140 Raw materials inventory, beginning $70 Raw materials inventory, ending $80 Work in process inventory, beginning $30 Work in process inventory, ending $20 Finished goods inventory, beginning $100 Finished goods inventory, ending $70 The above data (in thousands of dollars) have been taken from the accounting records of Larder Corporation for the just completed year. Required: (1) Calculate Direct materials used in production in good form. (2) Prepare a Schedule of Cost of Goods Manufactured in good form. (3) Compute the cost of Goods Sold in good form. (4) Using data from your answers above as needed, prepare an Income Statement in good form