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Transactions for the Period             Debenture Interest Charges                   $9 500   &nbs

Transactions for the Period

            Debenture Interest Charges                   $9 500

            Depreciation on Factory Plant                   7 300

            Direct Labour                                       42 000

            Direct Materials Purchases                    155 000

            Duty and Inward Charges on Direct

                        Materials Purchased                  11 000

            Plant Supervisor Salaries                       10 000

            Salesmen's Salaries                               30 000

            Sundry Manufacturing Expenses           24 000

Inventories at Beginning of the Period

            Work in Process                                   $23 200

            Direct Materials                                    40 000

            Finished Goods                                    50 000

Inventories at End of the Period

            Work in Process                                   $15 800

            Direct Materials                                    14 000

            Finished Goods                                    18 000

An actual cost system is used in which actual overhead is charged to production.

What is the cost of the goods transferred into finished goods in this period?What is the cost of goods sold?

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