16. (10 Points) The following information applies to the Mateo Company for the year. Factory Rent Direct Materials Inventory, Beginning Direct Materials Inventory, Ending Direct Materials Purchases Direct Labor-Wages Indirect Labor-Wages Finished Goods Inventory, Beginning Finished Goods Inventory, Ending Indirect Materials Plant Utilities General and Administrative Work-in-Process Inventory, Beginning Work-in-Process Inventory, Ending Marketing Expenses Sales Revenue 330,000 96,000 87,000 654,000 425,000 28,000 25,000 44,000 66,000 40,000 101,350 27,000 33,000 225,000 2,550,000 Calculate Cost of Goods Manufactured and Cost of Goods Sold