The Chippy Chocolate Cookie Company had for 19X2, raw materials on January | of $27,000 and raw materials on December 31 of $28,500. Work-in-process inventory was $25,000 on January 1, 19X2 and $22,000 on December 31, 19X2. The balance in finished goods inventory was $49,000 on January 1, 19X2 and $45,000 on December 31, 19X2. The company purchased materials for the year equal to $72,000. The direct labor and indirect labor were $32,000 and $9,000, respectively. Office salaries amounted to $12,000; electricity was $18,000. The selling, general, and administrative expenses were $37,000. The depreciation on office equipment was $6,000. Total factory overhead for the period was $73,500 including indirect labor. All raw materials are considered direct materials. njut8 Required:

Prepare a cost of goods manufactured statement and a cost of goods sold statement for the year 19X2.