Prepare in good form and without abbreviations, the Cost of Goods Sold section of the income statement (Only the cost of goods sold section) In order to present cost of goods sold, you will need to compute the cost of goods manufactured. Do NOT present a Statement of Cost of Goods Manufactured in your solution and do NOT show the computation of cost of goods manufactured on the exam solution pages. The following costs relate to one month’s operations: Indirect labor 400 Rent on factory building 350 Maintenance of factory equipment 100 Direct material used 1,200 Utilities in factory 200 Direct labor 1,500 Selling expense 900 Administrative expense 700 Work in process, beginning 800 Work in process, end 600 Finished goods, beginning 500 Finished goods, end 250