Compute the cost of Goods Manufactured and Cost of Goods Sold for Crystal Bay 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. Crystal Bay Company 1 Calculation of Direct Materials Used Data Table For Current Year Beginning of Year End of Year End of Year Plus: Raw materials inventory $ 23,000 $ 27,000 Insurance on plant $ 9,500 $ $ 13,300 Less: Work in process inventory Finished goods inventory Purchases of direct materials 38,000 $ 20,000 $ 30,000 Depreciation-plant building and equipment 21,000 Repairs and maintenance-plant $ $ 4,100 Direct materials used $ 77,000 Marketing expenses $ 78,000 $ 30,500 Calculate the cost of goods manufactured. Direct labor. $ 80,000 General and administrative expenses Crystal Bay Company Indirect labor. $ 46,000 Calculation of Cost of Goods Manufactured For Current Year Print Done Plus: Manufacturing costs incurred Direct materials used Calculate the cost of goods manufactured. Crystal Bay 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. Now calculate the cost of goods sold. Crystal Bay Company Calculation of Cost of Goods Sold For Current Year Plus: Less: Cost of goods sold