17. MC.01-127 A company manufactured s0,000 units of a product at a cost of $450,000. It sold 45,000 units at $1s each. The gross profit is O $270,000 O $600,000 O $240,000 O $750,000 18. MC.01-139 Smith Company reports the following information: Cost of goods manufactured Direct materials used Direct labor incurred $68,250 27,000 25,000 Work in process inventory, January 1 Factory overhead is 75% of the cost of direct labor, work in process inventory on December 31 is O $8,500 ( $18,750 $13,500 O $16,250