TechNova Inc. provided the following data for the quarter:
•Direct materials: $50,000
•Direct labor: $45,000
•Factory overhead: $25,000
•Work in Progress (Beginning): $10,000
•Work in Progress (Ending): $15,000
•Finished Goods (Beginning): $12,000
•Finished Goods (Ending): $18,000
Requirement: Prepare a cost of goods manufactured statement and a cost of goods sold statement for TechNova Inc.