Problem 3. alculate the costs using the source data:

Beginning raw materials inventory - $7 000

Purchases of materials - $100 000

Ending raw materials inventory - $5 000

Direct labor - $38 000

Manufacturing overhead - $21 000

Beginning work in process inventory -$ 6 000

Ending work in process inventory - $5 000

Beginning finished goods inventory - $ 4 000

Ending finished goods inventory- $5 000

Compute:

What is the cost of the materials that the Company used (in millions)?

What is the cost of goods manufactured (in millions)?

What is the cost of goods sold (in millions)?