The following data appeared in Dolphin Corporations records on December 31 of last year:

Direct materials inventory, December 31 $50,000

Direct materials purchased during the year 200,000

Finished goods inventory, December 31 50,000

Indirect labor 20,000

Direct labor 250,000

Accounts payable 75,000

Factory heat, light and power 30,000

Building depreciation (70% is for manufacturing) 50,000

Administrative salaries 30,000

Accounts receivables 65,000

Miscellaneous factory cost 20,000

Net plant and equipment 200,000

Marketing costs 25,000

Maintenance on factory machines 10,000

Insurance (50% is for factory equipment) 10,000

Distribution costs to customers 15,000

Property taxes on manufacturing property8,000

Legal fees on customer complaints 10,000

Direct materials used 220,000

Cash 85,000

Work in process inventory, December 31 14,000

Dividends 100,000

On January 1, at the beginning of last year, the Finished Goods Inventory account had a balance of $55,000, and the Work in Process Inventory account had a balance of $18,000. Sales revenue during the year was $1,200,000. Required:

a) Determine the cost of goods manufactured.

b) Determine the cost of goods sold.

c) Determine the operating income (loss).

d) From the above list of accounts indicate one item that is an example of a(n): i. direct cost ii. indirect cost iii. product cost iv. period cost