The following information is given for a Company, Inc., for 2022. Direct materials used $26,500 Direct labor 2,500 Manufacturing overhead applied 15,600 Work in process, January 1 20,000 Work in process, December 31 17,000 Manufacturing overhead incurred 15,450 Finished goods inventory, Jan 1 7,800 Finished goods inventory, Dec 31 8,000 Sales 75,800 Selling and Administrative expenses 29,890 Required: Using the information above compute the following items in the space provided. Show your work to receive partial credit. 1. Cost of goods manufactured. 2. Adjusted cost of goods. 3. Net operating income.