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 is P=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.

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

33. Compute for the net income or loss from operation. ____________________