The Weaver Manufacturing Company incurred direct labor costs of $205,000, and manufacturing overhead amounted to $173,000 during the year ended 30 June 2018. Materials purchases for the year were $198,000. Opening and closing inventories were as follows:

Item 1 July 2017 30 June 2018

$ $

Direct materials 49,000 42,000

Work-in-process 28,000 30,000

Finished goods 80,000 76,000

Required:

I.Calculate the Cost of Goods Manufactured by Weaver Manufacturing Company.

II.The Cost of Goods Sold by Weaver Manufacturing Company.