Question 1: (80 points) General Electrics provided the following information for 2020: Beginning inventory Raw material $57,000 Work in process 121,000 Finished goods 271,000 Ending inventory Raw material $41,000 Work in process 166,000 Finished goods 241,000 During the year, raw material purchased amounted to $111 000, direct labor cost was $331 000 and overheads costs was $440 000. GE's sales revenues totaled $1 551 000 and they had $86 000 selling and administrative expenses. GE's income tax rate is 22%. Required: A. Construct a schedule to calculate cost of goods manufactured. (60pts) B. Construct a statement to calculate cost of goods sold. (20pts)