AVIATION NAVY Company uses a normal product costing system. Any amount of over or underapplied overhead is immaterial. It reported the following amounts for 2003:
Raw materials purchased
$91,255
Beginning work-in-process inventory
$22,125
Direct materials used
77,015
Ending work-in-process inventory
17,636
Selling and administrative
Indirect materials used
7,944
21,963
expenses incurred
Other manufacturing overhead
Direct labor used
64,625
18,744
costs incurred
Indirect direct labor used
7,125
Beginning finished goods inventory
7,744
Manufacturing overhead
applied
31,015
Ending finished goods inventory
10,225
A. Calculate the cost of goods manufactured.
B. Calculate cost of goods sold. Ignore any over or underapplied overhead.