of $18,000 and an ending balance of $14,000. During the year, the company purchased $61,000 of direct materiah. Direct labor for the year lotaled $124,000, while manufacturing overhead amounted to $162,000. The Work in Process invembry account had a beginning balance of $24,000 and an ending balance of $16,000. Asume that Raw Materlas inventory contains onty direct materials. Compute the Cost of Coods Manutactured lor the year. (Plint. The first step is to calculatin the direct materials used during the year) Start by calculating the diect materials used during the year Compute the Cost of Goods Manufactured for the year. Ivanhoe Industries Calculation of Cost of Goods Manufactured For Current Year Plus: Manufacturing costs incurred Less: Cost of goods manufactured