Maintenance expense factory	10,000
Beg. work-in-process inventory	50,000
Beg. raw materials inventory Jan 1, 2022	40,000
Factory utilities expense	5,000
Indirect materials	15,000
Beginning finished goods inventory	40,000
Purchases of direct materials	60,000
Ending work-in-process	25,000
Factory machinery depreciation	10,000
Ending finished goods inventory	60,000
Direct labor	90,000
Indirect labor	15,000

Required:

a) Prepare a statement of cost of goods sold.

b) If sales = 300,000 determine the Gross Profit %