Sinjay Corporation incurred the following costs while manufacturing its product:

Work in process inventory was $10,000 at January 1 and $14,000 at December 31. Finished at January 1 and $50,600 at December 31.
Instructions
(a) Calculate cost of goods manufactured.
(b) Calculate cost of goods sold.

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Materials used in product Depreciation on plant Property taxes on warehouse Labour costs of assembly-line workers Factory supplies used $45,000 19,000 21,000 35,000 50,000 $120,000 Advertising expense 60,000 Property taxes on plant 7,500 Delivery expense 110,000 25,000 Sales commissions Salaries paid to sales clerks