Back Manufacturing reports the following information in T-account form for 2019. Raw Materials Inventory Begin. Inv. 10,800 Purchases 55,000 Avail. for use 65,800 DM used 48,000 End. Inv. 17,800 Work in Process Inventory Begin. Inv. 17,800 DM used 48,000 Direct labor 30,900 Overhead 67,000 Manuf. costs 163,700 Cost of goods manuf. 151,200 End. Inv. 12,500 Finished Goods Inventory Begin. Inv. 19,300 Cost of goods manuf. 151,200 Avail. for sale 170,500 Cost of Goods Sold 152,500 End. Inv. 18,000Required:1. Prepare the schedule of cost of goods manufactured for the year.2. Compute cost of goods sold for the year.

Insurance companies have internal controls in place to protect assets, monitor the accuracy of accounting records and encourage operational efficiencies and adherence to policies. these internal controls are generally of two types: administrative controls and accounting controls. administrative controls are the policies and procedures that guide the daily actions of employees. accounting controls are the policies and procedures that delineate authorizations of financial transactions that are done, safeguard assets, and provide reports on the company’s financial status in a reliable and timely manner. internal controls should include both preventative and detective controls. the purpose of preventative controls is to stop problems and errors before they occur. detective controls identify problems after they have occurred. preventative controls are usually more effective at reducing problems, but they also tend to be more expensive. internal controls must be flexible to adjust for changes in laws and regulations in addition to adding new products or modifying current ones. companies must also do regular analyses to ensure that the benefits of implementing the controls are worth their costs. when concerned about paying unwarranted insurance claims which type of control would be useful?