Pena Corporation incurred the following costs while manufacturing its product.
| Materials used in product |
$102,000 |
|
Advertising expense |
$48,000 |
| Depreciation on plant |
67,000 |
|
Property taxes on plant |
24,000 |
| Property taxes on store |
8,500 |
|
Delivery expense |
24,000 |
| Labor costs of assembly-line workers |
115,000 |
|
Sales commissions |
45,000 |
| Factory supplies used |
29,000 |
|
Salaries paid to sales clerks |
53,000 |
Work-in-process inventory was $14,000 at January 1 and $17,500 at December 31. Finished goods inventory was $69,000 at January 1 and $56,800 at December 31.
Compute the following:
| Cost of goods manufactured |
$ |
| Cost of goods sold |
$ |