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.

Create a statement of cost of goods manufactured for the year. (Hint: Create an analysis of changes in Finished Goods Inventory.)

***PLEASE SEE ATTACHED PHOTO FOR FORMAT*** Thank you!

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