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The following information is available for Collins Company. January 1, 20202020December 31, 2020 Raw materialsinventory$22,000$30,000 Work in process inventory20,30017,200 Finished goods inventory27,00029,000 Materialspurchased$170,000 Direct labor200,000

The following information is available for Collins Company.

January 1, 20202020December 31, 2020

Raw materialsinventory$22,000$30,000

Work in process inventory20,30017,200

Finished goods inventory27,00029,000

Materialspurchased$170,000

Direct labor200,000

Manufacturing overhead183,000

Sales revenue875,000

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(a) Compute cost of goods manufactured.

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