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3) Catlett Company manufactures products to customer specifications. A job costing system is used to...

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3) 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. Direct Materials Inventory, Beginning | $88,000| Direct Materials Inventory, Ending 75,000 Direct Materials Purchases 395,000 Direct Labor 300,000 Finished Goods Inventory, Beginning 137,000 Finished Goods Inventory, Ending 130,000 Actual Factory Overhead 322,000 Work-in-Process Inventory, Beginning 72,000 Work-in-Process Inventory, Ending 55,000 Required: Prepare a statement of cost of goods manufactured and a statement of cost of goods sold for the yeai ended December 31, 20XX

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