A. XXX Company manufactures computer stands. Cost of Goods Sold is 115,000, the ending balance of Finished Goods Inventory is 80% less than its beginning balances. The cost of goods manufactured is 60% of cost of goods sold.

1. what is the beginning balances of finished goods inventory? Show your solution

B. For December ABC company had the following: material purchases 33,000; depreciation of factory assets, 17,000 cost of goods sold, 150,000; expired insurance on factory assets, 2,000; cost of goods available for sale, 190,000; and total factory labor, 49,000. inventories were as follows:

JUNE 1 JUNE 30

Material 25,000 30,000

Work in process 50,000 40,000

General factory overhead of 13,000 was incurred in December; this figure includes all factory overhead except indirect labor, indirect materials, depreciation, insurance. Direct labor cost for the month was 6 times larger than indirect labor cost. the cost of indirect material used was 1,000. The company uses single materials account for direct and indirect materials

1. What is the direct materials used? please show the solution
2. What is the Finished Goods inventory, December 1