Victoria Bikes Inc. is a small manufacturing company that makes bicycles. The company has 2 buildings, one building contains the factory where bicycles are produced, the other building is split between a retail shop where customers can come in to purchase bikes and the administrative offices. The following costs were incurred for the year ended June 30, 2023: Direct labour 135,000 Indirect labour 50,000 Raw material purchases 140,000 Maintenance, factory equipment 6,500 Advertising expense 18,000 Insurance, factory equipment 1,500 Sales staff salaries 70,000 Rent, factory faciliites 24,000 Rent, retail store 12,000 Supplies, factory 5,000 Depreciation, office equipment 2,500 Depreciation, factory equipment 4,000 Additionally, the company had the following inventory balances at the beginning and end of the fiscal year: Inventories Beginning Ending Raw materials 10,000 8,000 Work in process 7,000 12,500 Finished goods 9,000 20,500

1. Prepare a Schedule of Cost of Goods Manufactured for the year ended June 30, 2023

2. Calculate the cost of goods sold for the year ended June 30, 2023.