The following information were obtained from the records of Sunshine Enterprise for the current year ended December 31: Cash 19800 Accounts Receivable 44000 Raw Materials Inventory Jan 1 70000 Raw...

Extracted text: The following information were obtained from the records of Sunshine Enterprise for the current year ended December 31: Cash 19800 Accounts Receivable 44000 Raw Materials Inventory Jan 1 70000 Raw Materials Inventory Dec 31 80000 Work in Process Jan 1 15000 Work in Process Dec 31 42000 Finished Goods Jan 1 109900 Finished Goods Dec 31 155000 Indirect Labor 50000 Direct Labor 142500 Factory supplies used 30000 Freight in 9000 Advertising Expense 16000 Sales Salaries 25000 Administrative Salaries 41000 Bad Debt Expense 5000 Allowance for Bad Debts Direct Material Purchases 3100 137500 471000 Sales The costs below are common costs incurred by various facilities to be allocated as follows: (Hint: Costs allocated to Factory will be part of Factory Overhead) Administrative 30% Factory 60% 60% 60% 60% Sales 10% 25% 20% 20% Total Costs Utilities 25000 35000 15% 20% 20% Taxes Insurance 10000 30000 Depreciation Required: 1. Allocate the common costs to Factory, Sales and Administrative. 2. Compute for Total Manufacturing Cost, Cost of Goods Manufactured and Cost of Goods Sold. Compute for the Net Income after tax (if applicable )(SHOW SOLUTION).