Compute the cost of Goods Manufactured and Cost of Goods Sold for Quality Acquatic 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) Data Table End of Year 5 9,000 Start the calculation for cost of goods manufactured by calculating the direct materials used. Quality Acquatic Company Calculation of Direct Materials Used For Current Year Beginning raw materials inventory 23,000 Plus Purchases of direct materials 73.000 Mais avable for use 96,000 Loss Ending raw materials inventory 28.000 70,000 Direct materials used Calculate the cost of goods manufactured Quality Acquatic Company Calculation of Cost of Goods Manufactured For Current Year Beginning work in process inventory $ 44,000 Plus Manufacturing costs incurred Direct labor $ 89,000 Manufacturing overhead Direct materials used Total manufacturing costs to account for Ending work in process inventory 27.000 Raw materials inventory Work in process inventory Finished goods inventory Purchases of direct materials Direct labor Indirect labor Beginning End of of Year Year $ 23,000 S 26,000 Insurance on plant $ 44,000 $ 27,000 Depreciation plant building and equipment $ 20,000 $ 28,000 Repairs and maintenance plant $ 73,000 Marketing expenses $ 89,000 General and administrative expenses $ 37,000 $ 13,100 3,500 $ 77,000 $ 22,500 Print Done Cost of goods manufactured