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The following additional information is available: a) Total utilities incurred were $35,000, of which factory utilities amounted to $27,000 b) Raw materials were purchased on account; $165,000. Indirect raw materials used; $27,000. The ending raw material inventory at December 31,2022 was $15,000 c) The total factory labour costs (both indirect and direct labour) was $810,000 d) The factory supervisor's salary (not included in labour costs) was $48,000. e) Depreciation recorded for the year was $70,000 (20\% for selling and administrative equipment and 80% for factory equipment) f) The company estimated that it would incur $320,000 in manufacturing overhead costs and incur 40,000 direct labour hours. Manufacturing overhead is applied based on direct labour hours. g) Total actual direct labour hours worked during the year was 41,000 h) There were three trucks in process at the year end, on which $12,000 of direct materials and $18,000 of direct labour costs (1,000 direct labour hours) had been incurred. i) Sales for the year totalled $2,300,000. Sales commissions were paid at 5% of sales. j) The unadjusted ending finished goods inventory at December 31, 2023 was $145,000 k) The insurance coverage is May 1 to April 30. An annual premium of $120,000 was paid on April 30 . Seventy percent relates to the factory and 30% is for selling and administrative. The following additional information is available: a) Total utilities incurred were $35,000, of which factory utilities amounted to $27,000 b) Raw materials were purchased on account; $165,000. Indirect raw materials used; $27,000. The ending raw material inventory at December 31,2022 was $15,000 c) The total factory labour costs (both indirect and direct labour) was $810,000 d) The factory supervisor's salary (not included in labour costs) was $48,000. e) Depreciation recorded for the year was $70,000 (20\% for selling and administrative equipment and 80% for factory equipment) f) The company estimated that it would incur $320,000 in manufacturing overhead costs and incur 40,000 direct labour hours. Manufacturing overhead is applied based on direct labour hours. g) Total actual direct labour hours worked during the year was 41,000 h) There were three trucks in process at the year end, on which $12,000 of direct materials and $18,000 of direct labour costs (1,000 direct labour hours) had been incurred. i) Sales for the year totalled $2,300,000. Sales commissions were paid at 5% of sales. j) The unadjusted ending finished goods inventory at December 31, 2023 was $145,000 k) The insurance coverage is May 1 to April 30. An annual premium of $120,000 was paid on April 30 . Seventy percent relates to the factory and 30% is for selling and administrative

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