ts Book Print Herences Cornelius Company produces women's clothing. During the year, the company incurred the following costs: Factory rent Direct labor $ 401,000 342,000 43,600 Utilities-factory 590,000 77,900 68,400 Purchases of direct materials Indirect materials Indirect labor Inventories for the year were as follows: Materials Work-in-Process Finished Goods Direct materials Required: 1&2. Prepare a statement of cost of goods manufactured and calculate cost of goods sold. Materials available January 1 $ 32,000 48,500 149,000 Materials used December 31 $50,500 42,800 82,700 Cornelius Company Statement of Cost of Goods Manufactured For the Year Ended December 31 is Materials available Materials used Factory overhead Total factory overhead Total manufacturing costs Total manufacturing costs to account for Cost of goods sold Cost of goods available for sale Cost of goods sold