The following information is supplied for Maupin Manufacturing Company. Prepare a schedule of cost of goods manufactured for the year ended December 31, 20--. Assume that all materials inventory items are direct materials.

Work in process, January 1 ................. $77,000

Materials inventory, January 1 ..............31,000

Materials purchases ................................35,000

Materials inventory, December 31 .......26,000

Direct labor ..............................................48,000

Overhead .................................................20,000

Work in process, December 31..............62,000