E1-17Runcke Motor Company manufactures automobiles. During September 2011 the company purchased 5000 head lamps at a cost of $9 per lamp. Runcke withdrew 4650 lamps from the warehouse during the month. Fifty of these lamps were used to replace the head lamps in autos used by traveling sales staff. The remaining 4600 lamps were put in autos manufactured during the month.Of the autos put into production during September 2011 90% were completed and transferred to the companys storage lot. Of the cars completed during the month 75% were sold by September 30.Instructions(a) Determine the cost of head lamps that would appear in each of the following accounts at September 30 2011: Raw Materials Work in Process Finished Goods Cost of Goods Sold and Selling Expenses.(b) Write a short memo to the chief accountant indicating whether and where each of the accounts in (a) would appear on the income statement or on the balance sheet at September 30 2011.