Excellent Manufacturing Company has the following cost and expense data for the year ending December 31. (a) Calculate the cost of goods manufactured; (b) Calculate Income before income taxes. Material, January 1 $30,000 Materials, December 31 $20,000 Work in process, January 1 80,000 Work in process, December 31 50,000 Finished goods, January 1 110,000 Finished goods, December 31 90,000 Factory supervisor's salary: $50,000 Insurance, factory 15,000 Direct manufacturing labor 300,000 Materials purchased 205,000 Sales 1,500,000 Property taxes factory 6,000 Delivery expense 80,000 Factory maintenance 40,000 Factory utilities 60,000 Sales commissions 30,000 24,000 Depreciation, factory equipment 26,000 Interest expense 200,000 Administrative expenses