Data analysis; manufacturing statement LO₅ Little Rock Manufacturing Co. produces one product and accounts for costs by a job order cost system.You have obtained the following information from the corporation's books and records for the year ended December 31:

a. Total manufacturing cost during the year was $1,000,000, including direct materials, direct labor, and factory overhead.

b. Cost of goods manufactured during the year was $970,000.

c. Factory overhead charged to work in process was 75% of direct labor cost and 27% of the total manufacturing cost.

d. The beginning work in process inventory, January I, was 60% of the ending work in process inventory, December 31.

Required:

Prepare a statement of cost of goods manufactured for the year ended December 3 1 for Little Rock Manufacturing. (Hint: Set up a statement of cost of goods manufactured, putting the given information in the appropriate spaces and solving for the unknown information.)