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Consider the following account balances for Dania company account balance of Beginning of 2020 Endding of 2020 Work-in-process $ 110,000 $ 160,000 Finished goods $115,000 $80,000 Direct materials used $500,000, Conversion cost expensed during the period $250,000, Selling expenses $40,000 and Administrative expenses $24,000 Compute the cost of goods manufactured and the cost of goods sold The following is a summary of May 2020 assembly department operations of Dania Company, which has two direct materials cost categories X is added at the start of the process and Yis added when the product is 50% completed. Conversion costs are added evenly during the process. Beg Work-in-process,may1 Zero The cost per equivalent unit is $16 of X materials, $12 of Y materials and $8 of conversion. Started during May 2,000 units, Completed and transferred out during May 1,500 units. Ending (May31) 500 units 40% degree of completion. The cost of Ending balance and Finished Goods (transferred out units) are Consider the following account balances for Omar company account balance of Beginning of 2020 Endding of 2020 Direct materials $ 40,000 $ 90,000 materials purchased $ 500,000