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.) Calculation of Direct Materiais used For Current Year Beginning raw materials inventory Plus: Purchases of direct materials Materials available for use Less: Ending raw materials inventory Direct materials used Calculate the cost of goods manufactured. Quality Acquatic Company Calculation of Cost of Goods Manufactured For Current Year Plus: Manufacturing costs incurred Less: Cost of goods manufactured - $ 25,000 Data table 75,000 100,000 Beginning of Year End of Year End of Year 32,000 $ 68,000 Raw materials inventory.. Work in process inventory Finished goods inventory. $ 25,000 $ 32,000 Insurance on plant $ 9,000 $ 44,000 $ 27,000 Depreciation-plant building and equipment $ 12,600 19,000 $ 20,000 Repairs and maintenance-plant $ 3,800 Purchases of direct materials $ 75,000 Marketing expenses $ 80,000 Direct labor.. $ 82,000 General and administrative expenses $ 28,500 Indirect labor. $ 46,000 Print Done