following information has been extracted from the records of Messini Ltd$.$:

$3$

Finished goods, January $1,2010$ Direct materials, January $1,2010$

Finished goods, December $31,2010$ Work in process, January $1,2010$

$ $80,00060,000$

$24,000$

$20,000$

Direct materials, December $31,2010$

$10\mathrm{.}000$

Work in process, December $31,2010$

$4,000$

Marketing and customer services costs

$80,000160,000$

Direct materials purchased

Direct manufacturing labour Indirect manufacturing labour

$80,00040,000$

Sales Amortization$-$plant, property, and equipment

$18,000$

Sales salaries and commissions

Plant utilities Plant supplies

$10,000$

$34,000$

Instructions

$1.$ Prepare a statement of cost of goods manufactured for the year.

$2.$ Determine the cost of goods sold for the year.