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2. During December, Dance Dance Co's: Purchase ofdirect materials totaled $313,000; Direct labor for the month was 10,000 hours at $25.00 per hour. Dance Dance co also incurred the following overhead costs: Utilities, 115,000 Supervision, 74,000, Indirect materials, 26,000 Depreciation, 248,000, Insurance 62,000 Miscellaneous 55,000. Beginning inventory accounts were as follows: Materials Inventory, 60,000 Work in Process Inventory, 8,000 Finished Goods Inventory 15,000 Ending inventory as follows: Materials Inventory, 78,000 Work in Process Inventory, 9,000 Finished Goods Inventory 12,500. Prepare a statement of cost of goods manufactured and the cost of goods sold section of the income statement.