Part A: Compute the following three cost amounts using the information below.
1. Direct materials used 2. Cost of goods manufactured 3. Cost of goods sold

Part B: Prepare a schedule of cost of goods manufactured using information in Part A. Total factory overhead used of $ 60,000 consists of Indirect labor of $ 25,000, Depreciation expense Factory of $ 32,000, and Factory utilities of $ 3,000.

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Raw materials inventory, beginning..... $15,500 Raw materials inventory, ending........ Work in process inventory, beginning.... Finished goods inventory, beginning..... Raw materials purchased..... 29,000 Work in process inventory, ending.... 24,000 Finished goods inventory, ending... 66,000 Direct labor used.... Total factory overhead used.... 60,000 ******* $10,600 44,000 37,400 38,000