Finished goods Inventory, Beginning

$16,000

Finished goods Inventory, ending

$14,000

Depreciation

$ 21,000

Administrative expenses

$45,000

Utilities, factory

$12,000

Maintenance, factory

$26,000

Supplies, factory

$6,000

Insurance, factory

$7,000

Purchase of raw materials

$72,000

Raw materials inventory, beginning

$5,000

Raw materials inventory, ending

$8,000

Direct labor

$61,000

Indirect labor

$32,000

Work in progress, beginning

$13,000

Work in progress inventory, ending

$14,000

Sales

$355,000

Selling expenses

$61,000

Required:

Calculate:

Total manufacturing cost

Cost of goods manufactured

Cost of goods available for sale

Cost of goods sold

Income statement- Net operating income