Statement of Cost of Goods Manufactured from Percent Relationships Information about Blue Line Products Company for the year ending December 31 follows: Sales equal $580,000. Direct materials used total $105,000. Manufacturing overhead is 200% of direct labor dollars. The beginning inventory of finished goods is 25% of the cost of goods sold. The ending inventory of finished goods is 1.5 times beginning inventory. The gross profit is 20% of sales. .There is no beginning or ending work-in-process. Prepare a statement of cost of goods manufactured for the year. (Hint: Prepare an analysis of changes in Finished Goods Inventory.) Do not use negative signs with any of your answers. BLUE LINE PRODUCTS COMPANY Statement of Cost of Goods Manufactured For the Year Ending December 31 Current manufacturing costs: Direct materials $ 0 Direct labor Manufacturing overhead Beginning work-in-process 0 0 $ 0 0 Total costs in process 0 Ending work-in-process 0 Cost of goods manufactured $ 0 Analysis of Finished Goods Inventory: Finished goods, 1/1 $ 0 Cost of goods manufactured 0 Total goods available for sale 0 Finished goods, 12/31 0 Cost of goods sold $ 0