Pena Corporation incurred the following costs while manufacturing its product.

Work in process inventory was $12,000 at January 1 and $15,500 at December 31.
Finished goods inventory was $60,000 at January 1 and $55,600 at December 31.
Instructions
(a) Compute cost of goods manufactured.
(b) Compute cost of goodssold.

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Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line $100,000 Advertising expense Property taxes on plant Sales commissions Salaries paid to sales $45,000 14,000 21,000 35,000 60,000 7,500 Delivery expense workers Factory supplies used 110,000 23,000 clerks 50,000