Cost of goods sold (COGS): $70 Direct labor: $20 Direct materials used (DM): $15 Overhead applied at 200% of DM: 200% * $15 = $30

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Cost of goods sold (COGS): $70 Direct labor: $20 Direct materials used (DM): $15 Overhead applied at 200% of DM: 200% * $15 = $30 Cost of goods manufactured (COGM): $80 Work in process beginning (WIP): $35 Finished goods beginning (FG): $5 Show all computations. Prepare a schedule of COGM & Sold. Hint: plug ending WIP and FG