Catlett Company Manufactures Products to Customer Specifications Required:
Prepare a Statement of Cost of Goods Manufactured and Is

Catlett Company manufactures products to customer specifications.A job costing system is used to accumulate production costs.Factory overhead cost was applied at 120% of direct labor cost.Selected data concerning operations of the company are presented below. $$\begin{array} { | l | r | } \hline \text { Direct Materials Inventory, Beginning } & \$ 88,000 \\\hline \text { Direct Materials Inventory, Ending } & 75,000 \\\hline \text { Direct Materials Purchases } & 395,000 \\\hline \text { Direct Labor } & 300,000 \\\hline \text { Finished Goods Inventory, Beginning } & 137,000 \\\hline \text { Finished Goods Inventory, Ending } & 130,000 \\\hline \text { Actual Factory Overhead } & 322,000 \\\hline \text { Work-in-Process Inventory, Beginning } & 72,000 \\\hline \text { Work-in-Process Inventory, Ending } & 55,000 \\\hline\end{array}$$ Required:
Prepare a statement of cost of goods manufactured and a statement of cost of goods sold for the year ended December 31, 20XX.