Cost of Goods Manufactured and Sold Jordan Company produces women’s clothing. During 2010, the company incurred the following costs: Factory rent $425,000 Direct labor 325,000 Utilities—Factory 35,000...

Cost of Goods Manufactured and Sold Jordan Company produces women’s clothing. During 2010, the company incurred the following costs:

Factory rent $425,000

Direct labor 325,000

Utilities—Factory 35,000

Purchases of direct materials 625,000

Indirect materials 70,000

Indirect labor 80,000

Required

1. Prepare a statement of cost of goods manufactured.

2. Calculate cost of goods sold.