Statement of Cost of Goods Manufactured from Percent Relationships Information about Blue Line Product Company for the year ending December 31, 2017, follows:

Sales equal $475,000.

Direct materials used total 68,000.

Manufacturing overhead is 150 percent of direct labor dollars.

The beginning inventory of finished goods is 20 percent of the cost of goods sold.

The ending inventory of finished goods is twice the beginning inventory.

The gross profit is 20 percent of sales.

There is no beginning or ending work-in-process.

Prepare a statement of cost of goods manufactured for 2017. (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, 2017
Current manufacturing costs:
Direct materials	$Answer
Direct labor	Answer
Manufacturing overhead	Answer	$Answer
Beginning work-in-process		Answer
Total costs in process		Answer
Ending work-in-process		Answer
Cost of goods manufactured		$Answer
Analysis of Finished Goods Inventory:
Finished goods, 1/1/17		$Answer
Cost of goods manufactured		Answer
Total goods available for sale		Answer
Finished goods, 12/31/17		Answer
Cost of goods sold		$Answer