Selected account balances and transactions of Titan Foundry, Inc. follow: Beginning Bal May 1 Ending Bal May 31 Raw materials Factory supplies Work in process Finished goods $ 6,000 800 3,500 12,000 $ 5,500 900 6,500 13,200 May transactions: a. Purchased raw materials and factory supplies on account at costs of $45,000 and $10,000, respectively. (One inventory account is maintained.) b. Incurred wages during the month of $65,000 ($15,000 was for indirect labor.) c. Incurred factory overhead costs in the amount of $42,000 on account. d. Made adjusting entries to record $10,000 of factory overhead for items such as depreciation (credit Various Credits). Factory overhead was closed to Work in Process. Completed jobs were transferred t Finished Goods, and the cost of jobs sold was charged to Cost of Goods Sold. Required: Prepare Statement of Cost of Goods Manufactured and Cost of Goods Sold