3. Glavine Corporation incurred the following costs while manufacturing its product. $45,000 $125,000 Advertising expense Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers110,000 Factory supplies used 19,000 21,000 60,000 Property taxes on plant 7,500 Delivery expense Sales commissions Salaries paid to sales clerks 35,000 50,000 23,000 Work-in-process inventory was $27,000 at January 1 and $15,500 at December 31. Finished goods inventory was $65,000 at January1 Instructions (a) Compute cost of goods manufactured. (10 points) (b) Compute cost of goods sold. (5 Points)