14. GHI Corporation manufactures a single product. The following data is for the month of December:

• Direct materials used: $55,000
• Direct labor cost: $40,000
• Variable manufacturing overhead: $18,000
• Fixed manufacturing overhead: $30,000
• Beginning finished goods inventory: $20,000
• Ending finished goods inventory: $25,000
• Beginning work in process inventory: $15,000
• Ending work in process inventory: $18,000

Requirements: a) Calculate the total manufacturing cost. b) Calculate the cost of goods manufactured. c) Calculate the cost of goods sold. d) Calculate the gross profit. e) Prepare a schedule of cost of goods manufactured. f) Prepare a schedule of cost of goods sold.