Memories Inc., which produces specialty picture frames, had the following summary cost information:

Direct materials used .............. $24,000

Direct labor .................22,000

Factory rent ................ 6,000

Equipment depreciation ............ 7,500

Marketing expense ..............15,000

Administrative expense ............13,000

Shipping charges .............. 5,000

Number of units produced ...........25,000

Required

Calculate the cost of goods sold if 24,000 units aresold.