Midterm Company reported the following account balances. January 1 January 31 Raw materials inventory $5,000 $6,000 Work-in-process inventory 14,000 10,000 Finished goods inventory 6,000 8,000 The following activity occurred during the month. Raw materials costing $16,000 were purchased. Direct labor cost of $12,000 was incurred. Selling costs of $7,000 were incurred. Applied overhead of $18,000 was assigned to production. Administrative costs of $24,000 were incurred. Sales revenue totaled $90,000. . Determine the cost of direct materials used for January. Determine the product cost added for January. Determine the cost of goods manufactured for January