$\backslash$table$[[$Use your best estimates to calculate Direct Materials Used, Cost of Goods Manufactured, and Cost of Goods Sold for your product.,$],[,,,,],[,=$ Fill in the Blank,,$],[,,,,],[$Calculation of Direct Materials Used,,Hints:,,$],[($Analyze Raw Materials Account$),],[,,,,],[$Beginning Raw Materials Inventory,$0,$Beginning Balance should be zero since you're just starting the business.,,$],[$Plus: Purchases of Direct Materials, Freight$-$in$,$ Duties,,$\backslash$table$[[$What is the cost of the direct materials needed to make your product? What is the quantity you will need?$],[$DM quantity x DM cost$]],,],[$Materials Available for Use,$0,,,],[$Less: Ending Raw Materials Inventory,,Do you want to have ending raw materials on hand?,,$],[$Direct Materials Used,$0,,,],[,,,,],[$Calculation of Cost of Goods Manufactured,$],[($Analyze WIP Inventory$),],[,,,,],[$Beginning WIP Inventory,$0,$Beginning Balance should be zero since you're just starting the business.,,$],[$Plus Manufacturing Costs Incurred:,$],[$Direct Materials Used,$0,$From your DM calculation above,,$],[$Direct Labor,,$\backslash$table$[[$How many employees will you need to make the product? How much time does it take to make the product? What is the cost per hour?$],[$Employees x time x employee rate$]],$t$,],[$Manufacturing Overhead,,What other indirect costs will there be to make the product? Things that you need but can't trace directly back to the product?,,$],[$Total Manufacturing Costs to Account For,$0,,,],[$Less: Ending WIP Inventory,,Do you want to have any ending WIP on hand?,,$],[$Cost of Goods Manufactured,$0,,,]]$