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Problem 6-10 (IAA) Condo Company reported the following total debits and total credits in selected accounts after closing entries were posted: Debits Credits Materials 600.000 200,000 Goods in process 500,000 300,000 Material purchases 2,500,000 2,500,000 Purchase discount 100,000 100.000 Transportation in 200,000 200,000 Direct labor 3,000,000 3,000,000 Manufacturing overhead 1,500,000 1,500,000 Finished goods 700,000 400,000 1. What is the cost of raw materials used? a. 2,800,000 b. 2,400.000 c. 3,200,000 d. 2,600,000 ASSE) a sto 2. What is the cost of goods manufactured? a. 6,900,000 b. 7,200,000 c. 7,000,000 d. 7,400,000 3. What is the cost of goods sold for the year? a. 6,900,000 b. 7,400,000 c. 7,100,000 d. 7,000,000 DO