Cornelius Company produces women's clothing. During the year, the company incurred the following costs: Factory rent Direct labor Utilities-factory Purchases of direct materials Indirect materials Indirect labor $ 392,000 324,000 41,200 575,000 72,800 64,800 Inventories for the year were as follows: Materials Work-in-Process Finished Goods January 1 $ 29,000 47,000 143,000 December 31 $ 46,000 41,600 79,400 Required: 182. Prepare a statement of cost of goods manufactured and calculate cost of goods sold. Comelius Company Statement of Cost of Goods Manufactured For the Year Ended December 31 Cornelius Company Statement of Cost of Goods Manufactured For the Year Ended December 31 Direct materials Materials available Materials used Factory overhead Total factory overhead Total manufacturing costs Total manufacturing costs to account for Cost of goods sold Total factory overhead Total manufacturing costs Total manufacturing costs to account for Cost of goods sold Cost of goods available for sale Cost of goods sold