McClintock Manufacturing Inc. has the following information available for the month of July:

Beginning Ending Raw materials inventory $20,000 $ 14,000 Work-in-process inventory 35,000 50,000 Finished goods inventory 20,000 37,000 Raw materials purchased $100,000 Direct labor costs 50,000 Overhead costs 45,000 Selling and administrative costs 20,000

Required:

A. Calculate raw materials used for July. $ B. Calculate cost of goods manufactured for July. $ C. Calculate cost of goods sold for July. $ D. Assume sales revenue totaled $300,000, calculate net operating income for July. (Ignore taxes) $