Beginning End of End of of Year Year Year Raw materials inventory ........$ 28,000 $ 33,000 Insurance on plant.......... 7,000 Work in process inventory.......$ 42,000 $ 36,000 Depreciation-plant building and equipment .... $ 12,900 Finished goods inventory ....... $ 18,000 $ 24,000 Repairs and maintenance-plant .............$ 3,800 Purchases of direct materials ........ $ 74,000 Marketing expenses....... ......... 79,000 Direct labor .......... $ 89,000 General and administrative expenses.........$ 29,500 Indirect labor........... 46,000 Compute the Cost of Goods Manufactured and Cost of Goods Sold for East Aquatic Company for the most recent year using the amounts described next. Assume that Raw Materials Inventory contains only direct materials. (Click the icon to view the data.) Start the calculation for cost of goods manufactured by calculating the direct materials used. East Aquatic Company Calculation of Direct Materials Used For Current Year Plus: Less: Direct materials used Calculate the cost of goods manufactured. East Aquatic Company Calculation of Cost of Goods Manufactured For Current Year Plus: Manufacturing costs incurred Less: Cost of goods manufactured Now calculate the cost of goods sold. Calculate the cost of goods manufactured. East Aquatic Company Calculation of Cost of Goods Manufactured For Current Year Plus: Manufacturing costs incurred Less: Cost of goods manufactured Now calculate the cost of goods sold. East Aquatic Company Calculation of Cost of Goods Sold For Current Year Plus: Less: Cost of goods sold