Part 1. Problems. There are four problems. Each one is worth the score indicated next to the problem number. Show all work for complete credit. You may write your answers on the test or attach extra pages. Please be NEAT when writing your answers. I cannot grade illegible answers. (40 points possible) 1.. (12 points) The following data have been taken from the accounting records of Larder Corporation for the just completed year. Sales $2,115,000 Purchases of raw materials $405,000 Direct labor $415,000 Applied Manufacturing overhead Administrative expenses Administrative expenses $250,000 Selling expenses $210,000 Raw materials inventory, beginning $190,000 Raw materials inventory, ending $140,000 Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending