During December, Kenley Ryan Corps:

Purchase of direct materials totaled $313,000;

Direct labor for the month was 10,000 hours at $25.00 per hour.

Kenley Ryan also incurred the following overhead costs:

Utilities, 115,000

Supervision, 74,000,

Indirect materials, 26,000

Depreciation, 248,000,

Insurance 62,000

Miscellaneous 55,000.

Beginning inventory accounts were as follows:

Materials Inventory, 60,000

Work in Process Inventory, 8,000

Finished Goods Inventory 15,000

Ending inventory as follows:

Materials Inventory, 78,000

Work in Process Inventory, 9,000

Finished Goods Inventory 12,500.

Prepare a statement of cost of goods manufactured and the cost of goods sold section of the income statement.