DER, Inc., manufactures a single product. The following information is available for 2022:

● Raw materials: Beginning balance: $5,000. Purchased $40,000 on credit. Direct materials used in production were three-fourths of direct materials bought.

● Work in process: Beginning balance: $3,100. Ending balance: $12,900.
Units transferred out: 10,000. All units have the same average cost.

● Finished goods: Beginning balance: 0 units. Ending balance: 1,000 units.

Also known:

a. Complete the T-accounts for raw materials, work in process, and finished goods.

b. What is the ending balance of raw materials?

c. What is overhead?

d. What is cost of goods manufactured?

e. What is gross margin?

f. What are period costs?

g. What are conversion costs?

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Prime costs Indirect labor Factory insurance Utilities Factory depreciation Sales Administrative and selling costs (other than utilities) $55,000 $11,000 $2,500 $8,000 $7,000 (80% relates to production) $14 Per unit $22,000