Company: Samsung Electronics Co., Ltd. Samsung Electronics Co., Ltd. manufactures consumer electronics and semiconductor products. For the month of May, the company incurred the following costs related to the production of smartphones:

• Direct materials cost: $2,000,000
• Direct labor cost: $1,500,000
• Manufacturing overhead: $1,000,000
• Beginning work in process inventory: $500,000
• Ending work in process inventory: $700,000 Calculate the cost of goods manufactured and the cost of goods sold for the month.