For July, Beerton Company had cost of goods manufactured equal to $50,000; direct materials used, $16,000; cost of goods sold, $60,000; direct labor, $24,000; purchases of materials, $25,000; cost of goods available for sale, $70,000; and total factory labor, $29,000. Work in process was $15,000 on July 1 and $25,000 on July 31. The company uses a single materials account for direct and indirect materials. Required Prepare the following: (1) A cost of goods sold statement. For brevity, show single line items for factory overhead and direct materials used. (2) Summary general journal entries to record: (a) Purchase of materials on account (b) Use of materials, including indirect materials of $2,000 (c) Accrual of the factory payroll, including indirect labor of $5,000 (use a payroll clearing account) (d) Distribution of factory labor cost (e) Transfer of completed work to finished goods (f) Sales on account, at a markup equal to 75% of production cost