The following information is from ABC Company's general ledger: Beginning and ending inventories, respectively, for raw materials were $9,700 and $11,700 and for work in process were $21,700 and $23,700. Raw material purchases and direct labor costs incurred were $37,700 each, and manufacturing overhead applied amounted to $21,700. Required: Prepare a statement of cost of goods manufactured for ABC Company. (Amounts to be deducted should be indicated by a minus sign.) ABC COMPANY Raw materials Raw materials available for use Cost of raw materials used Total Cost of goods manufactured