Homework Answers
a) Direct material used = 6000+18000-10000 = $14000
b) Cost of goods sold = 60000*60% = 36000
Amount transferred out to finished goods = 2500+36000-12000 = 26500
c) Cost of goods manufactured = 40000-12000 = 28000
Ending WIP = 2000+20000+22000-28000 = 16000
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