Required: Compute the cost of goods manufactured and cost of goods sold from the following account balances relating to 20X1 in thousands: Property tax on plant building P3,000 Marketing, distribution, and customer-service costs 37,000 Finished goods inventory, beginning 27,000 Plant utilities 17,000 Work in process inventory, ending 26,000 Depreciation of plant building 9,000 General and administrative costs (nonplant) 43,000 Direct material used 87,000 Finished goods inventory, ending 34,000 Depreciation of plant equipment 11,000 Plant repairs and maintenance 16,000 Work in process inventory, beginning 20,000 Direct manufacturing labor 34,000 Indirect manufacturing labor 23,000 Indirect materials used 11,000 Miscellaneous plant overhead 4,000