1) Assume the following: Beginning Work in Process: $5,000 Direct Materials: $10,000 Direct Labor: $30,000 Manufacturing Overhead: $20,000 Ending Work in Process: $15,000 How much is the Cost of Goods Manufactured? Use commas, but not NOT use $ signs or cents.

2)Use the following information to answer the questions below: Administrative salaries - $30,000 Advertising expense - 3,000 Materials inventory, January 1 - 20,000 Materials inventory, December 31 - 15,000 Finished goods inventory, January 1 - 7,000 Finished goods inventory, December 31 - 8,000 Work in process inventory, January 1 - 5,000 Indirect labor - 8,000 Sales - 80,000 Direct labor costs - 14,000 Sales commissions - 2,000 Factory depreciation - 2,000 Direct materials purchased - 11,000 Work in process inventory, December 31 - 3,000 Use comma's, but do NOT use $ signs or cents. a). Calculate total manufacturing costs.

b). Calculate Cost of Goods Manufactured

c).Calculate Cost of Goods Sold.

d).Calculate the Net Income or Net Loss.

Use the following format for your answer:

1. If a net income: x,xxx net income

2. If a net loss: x,xxx net loss