Green Foods Manufacturing Company (Green) provided the following details about operations in the year 2022.

Purchase of raw materials $ 130,000

Maintenance, factory 37,000

Direct labour 32,500

Depreciation, factory equipment 55,000

Indirect materials, factory 3,000

Selling and administrative salaries 42,500

Utilities, factory 26,000

Sales commissions 17,500

Insurance, factory equipment 4,000

Depreciation, sales equipment 20,000

Advertising expenses 107,500

Rent, factory building ?

The company also provided details regarding the balances in the inventory accounts at the beginning and end of the month as follows:

Beginning of the year End of the year

Raw materials $25,000 ?

Work in process 24,000 ?

Finished goods 15,000 ?

Raw materials used in production cost $135,000, total overhead costs for the year were $170,000, the goods available for sale totalled $360,000 and the cost of goods sold totalled $317,500

Prepare a schedule of cost of goods manufactured and the cost of goods sold section of the companys income statement for the year