Cost of Goods Sold, Cost of Goods Manufactured Piper Company has the following information for January:

Cost of direct materials used in production $ 61,000

Direct labor 68,000

Factory overhead 26,000

Work in process inventory, January 1 49,000

Work in process inventory, January 31 49,000

Finished goods inventory, January 1 22,000

Finished goods inventory, January 31 17,000

a. For January, determine the cost of goods manufactured. $ -------------

b. For January, determine the cost of goods sold. $___________