Westlake, Inc. produces metal fittings for the aerospace industry. The administrative and manufacturing operations occupy the same 200,000 square foot building. The manufacturing plant uses 150,000 square feet. Depreciation is assigned based on building use. Indirect labor represents 15 percent of the total manufacturing plant labor.

The financial information for the year just ended is shown as follows.

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1. Prepare a cost of goods manufactured and sold statement.

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$ 30e 680 (Thousands of dollars) Administrative costs Total building depreciation Direct materials inventory, January 1 Direct materials inventory, December 31 Direct materials purchased during the year Finished goods inventory, December 31 Indirect labor Maintenance on plant machinery Marketing costs Operating profit Other plant overhead Plant supervision and administration Plant supplies and indirect materials Sales revenue Taxes on manufacturing property Work-in-process inventory, January 1 Work-in-process inventory, December 31 34 1,584 94 264 154 134 908 169 6,400 131 124 Cost of Goods Manufactured and Sold Statement For the Year Ending December 31 (Thousands of Dollars) ousands of Dollars) Beginning work-in-process, January 1 Manufacturing costs: Direct materials: Beginning direct materials inventory, January 1 5 29 Add: Direct materials purchased 1,584 Direct materials available for use Ps 1.613 Less: Ending direct materials inventory, December 31 Materials used PS Direct labor Manufacturing overhead: Depreciation on plant 510 Indirect labor 264 Maintenance on plant machinery 154 Other plant overhead Plant supervision and administration 189 Plant supplies and indirect materials 81 Taxes on manufacturing property 131 1.579 1.498 Total overhead Total manufacturing costs Total cost of work-in-process during the year Less: Ending work in process, December 31 Costs of goods manufactured this year Add: Beginning finished goods, January 1 Cost of goods available for sale Less: Ending finished goods, December 31 Cost of goods sold