QUESTION 2 Generic Motors is a manufacturing firm. Its beginning inventory of materials was $3,000,purchases of materials $15,000, ending inventory of materials $2,000. Its beginninginventory of work-in-process (WIP) was $5,000, ending inventory of WIP was $7,000. Itscost of direct labor was $10,000, manufacturing overhead $4,000. Its beginning inventoryof finished goods was $0, ending inventory of finished goods was $500. a) The cost of materials used was $ 16000 b) The cost of goods manufactured (COGM) was $ c) The cost of goods sold (COGS) was $ QUESTION 3 Generic Motors Company wants to estimate its fixed costs and unit variable costs based on the following information for 2029. Its production volume for 2029 was 200 units. Cost account direct labor direct materials Amount $5,000 $7,000 depreciation (straight line method) $6,000 rent administrative staff salaries $10,000 $5,000 First, classify each cost account as fixed or variable (none of them is mixed). Enter "F" for fixed and "V" for variable. a) direct labor is b) direct materials is c) depreciation is d) rent is e) administrative staff salaries is