Using $2,200,000 as the total manufacturing cost, compute the the cost of goods manufactured using the following information. Raw Materials Inventory, January 1...................$ 20,000 Raw Materials Inventory, December 31................40,000 Work in Process, January 1..................................18,000 Work in Process, December 31............................12,000 Finished goods, Janaury 1....................................40,000 Finished goods, December 31..............................32,000 Raw Materials purchases.................................1,100,000 Direct labor..........................................................560,000 Factory utilities.....................................................150,000 Indirect labor..........................................................50,000 Factory depreciation.............................................400,000 Operating expenses..............................................420,000