Statement of Cost of Goods Manufactured from Percent Relationships

Information about Blue Line Products 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 begining inventory of finished goods is 20 percent of the cost of good sold

The ending inventory of finished goods is twic the beginning inventory

The gross profit is 20 percent of sales

There is no begining 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)

Please show work