ABC Company has provided the following data for the month of August: Raw materials inventory Work in process inventory Finished goods inventory... August 1 $8.000 9,000 $25,000 August 31 15.000 $14,000 $35,000 Other Data: Sales .......... ... Manufacturing overhead costs. . Direct labor.. Purchase of raw materials ......................... Administrative expenses ............ Cost of goods manufactured .. Selling expenses ......... ............................. Instructions: 1.Compute the cost of raw material used. 2.Compute the cost of goods manufactured. 3. Compute the cost of goods sold. 4. Compute the net income. $350,000 $44,000 $80,000 $94,000 $40,000 $206,000 $15,000 $15.000 (1 mark) (1 mark) (1 mark) (1 mark)