Cost of Goods Manufactured and Sold

Selected account balances of Daigle Manufacturers Inc. appear below for 2020:

	Beginning of Year	End of Year
Finished Goods Inventory	$25,000	$32,000
Work in Process Inventory	30,000	35,000
Raw Materials Inventory	46,000	26,000
Sales		360,000
Direct Labor		45,000
Factory Supervisory Salaries		18,000
Income Tax Expense		25,000
Factory Insurance		12,000
Raw Materials Purchases		75,000
Administrative Expenses		17,000
Sales Returns and Allowances		15,000
Factory Depreciation Expense		22,000
Indirect Labor		11,000
Selling Expenses		35,000

Instructions

Using the above information for Daigle Manufacturers Inc., answer the following questions.

1. What was the amount of raw materials used?

2. What was the total manufacturing cost incurred?

3. What was the cost of goods manufactured?

4. What was the cost of goods sold?