Below is selected data for a manufacturing company.

Materials purchased during the year$9,000

Materials inventory at Jan 1$1,000

Materials inventory at Dec 31$1,500

Labor used in manufacturing a product$15,000

Factory overhead incurred during the year$10,000

Goods in process inventory at Jan 1$20,000

Goods in process inventory at Dec 31$10,000

Finished goods inventory at Jan 1$30,000

Finished goods inventory at Dec 31$20,000

A. Working with the raw materials inventory. Calculate the cost of materials that were used during the year.

B. Working with the goods in process inventory account. Calculate the cost of goods manufactured during the year. Note that this is a continuation of the same problem so make sure you include the cost of materials used that you calculated above!

C. Working with the finished goods inventory account. Calculate the cost of goods sold during the year.