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.) 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 Plus: Less: Direct materials used i Data Table - X Work in process inventory $ Finished goods inventory $ Purchases of direct materials 35,000 $27,000 19,000 $ 24,000 Beginning of Year End of Year Raw materials inventory $ 20,000 $ 34,000 Insurance on plant Depreciation-plant building and Repairs and maintenance-plant End of Year $ 11,000 equipment $12,500 $ 4,100 $ 79,000 Marketing expenses $ 77,000 Direct labor $ 85,000 General and administrative expenses $ 28,500 ? Indirect labor $ 40,000 Print Done