Statement of Cost of Goods Manufactured from Percent Relationships Information about Blue Line Products Company for the year ending December 31, 2017, follows:

Sales equal \($475,000\). Direct materials used total \($68.000\). Manufacturing overhead is 150 percent of direct labor dollars. The beginning inventory of finished goods is 20 percent of the cost of goods sold. The ending inventory of finished goods is twice the beginning inventory. The gross profit is 20 percent of sales. There is no beginning or ending work-in-process.

Required
Prepare a statement of cost of goods manufactured for 2017. (Hint: Prepare an analysis of changes in Finished Goods Inventory.)