Part III: work out questions 1. Foxwood Company accumulated the following data for 2007. Jan 1, 2007 Inventories: Finished Goods Work in Process Raw materials Direct labor Raw material purchases Indirect labor Indirect materials and supplies Factory utilities Depreciation expense- Factory Factory rent Payroll taxes- Factory wages Repairs and maintenance-Factory Insurance expense- Factory Miscellaneous factory expenses Sales Sales discount $ 52,000 29,600 14,200 Selling expenses General expenses Interest expenses Required: a) Prepare a statement of cost of goods manufactured. Dec 31, 2007 $ 54,000 27,800 15,000 95,000 138,000 15,300 10,800 18,600 14,000 18,000 8,100 6,000 6,800 5,200 710,000 12,000 95,600 75,300 7,000 38​