Question 1: (80 points) General Electrics provided the following information for 2020: Beginning inventory Raw material $70,000 Work in process 128,000 Finished goods 280,000 Ending inventory Raw material $48,000 Work in process 175,000 Finished goods 253,000 During the year, raw material purchased amounted to $124 000, direct labor cost was $350 000 and overheads costs was $465 000. GE's sales revenues totaled $1 800 000 and they had $98 000 selling and administrative expenses. GE's income tax rate is 20%. Required: A. Construct a schedule to calculate cost of goods manufactured. (60pts) B. Construct a statement to calculate cost of goods sold. (20pts)