The following information was taken from the records of Blue Company for the current month: Production in units, 25,000 Raw materials used, P =500,000 of which P =50,000 is indirect Factory labor hours utilized, 2,000 hours. This includes 200 hours worked as overtime. The regular rate isP =50 per hour and the overtime premium is 30%. Factory overhead applied to the job is P =2 per unit plus P =80,000 per month Selling expenses, P =1 per unit plus P =65,000 per month Administrative expenses, P =2 per unit plus P =80,000 per month Sales for the current month, 22,000 units at 40% mark-up on costs.

Compute for the cost of goods sold for the period. ____________________

Compute for the net income or loss from operation. ____________________