Computational Problems: Schedules of COGM & COGS 1. BBB Inc. manufactures purses. They use actual costing and they had the following data for the period just ended Work in process, Jan. 1 Work in process, Dec. 31 Finished goods, Jan. 1 Finished goods, Dec. 31 Direct materials used Direct labor Administration Sales Administrative expense Other factory overhead Indirect materials Indirect labor $15,000 25,000 60,000 40,000 120,000 220,000 68,000 800,000 44,000 93,000 19,000 33,000 Required: Calculate cost of goods manufactured (COGM and cost of goods sold(COGS)