Answer and Explanation:
The computation is shown below
a. The cost of goods manufactured is
Materials used in product $130,300
Labor costs of assembly-line workers 116,100
Depreciation on plant 62,500
Property taxes on plant 24,300
Factory supplies used 34,000
Work in process inventory at January 1 $14,400
Less: Work in process inventory at december 1 -$17,600
Cost of goods manufactured $364,000
b. The cost of goods sold is
= Opening finished goods + cost of goods manufactured - ending finished goods
= $61,100 + $364,000 - $48,500
= $376,600
