Reference no: EM132660041

Anthony Co. manufactures office furniture at its plant in Ontario. In August, the plant accountant collected the following data concerning operations during the month of July:

Purchases of raw materials $ 48,000
Direct labour 75,000
Manufacturing overhead 110,200
Sales revenue 455,000
Various Selling and Administrative expenses:
Depreciation 25,000
Salaries and wages 67,000
Utilities 3,000
Advertising 6,000
Sales commissions 12,000

Inventory                  Beginning             Ending
Raw materials        $12,000                $21,000
Work in process      48,000                 67,000
Finished goods     30,000                    36,000

Problem 1: In a statement of Cost of Goods Sold, the Cost of Goods Sold would be