PIP$$S PIE COMPANY HAS THE FOLLOWING MANUFACTURING COSTS:

DIRECT MATERIALS USED: $$40,000$

DIRECTLABOR $$52,000$

MANUFACTURING OVERHEAD $$28,000$

PIP$$S INVENTORY ACCOUNTS HAD THE FOLLOWING BALANCES:

RAW MATERIALS $$0$

WIP BEGINNING $$8,500$

WIP ENDING $$13,000$

FINISHED GOODS BEGINNING $$14,750$

FINISHED GOODS ENDING $$9,800$

REQUIRED:

$1.$ PREPARE THE STATEMENT OF COST OF GOODS MANUFACTURED

$2.$ WHAT IS THE COST OF GOODS SOLD

$3.$ WHAT IS THE GROSS MARGIN IF PIP SOLD $1,200$ PIES AT $$20$ EACH?