QUESTION 24 The finished goods inventory account showed $10,000 beginning balance for the year. During the year, $6,000 was reported for the cost of goods sold. At the end of the year $8,000 remained in finished goods inventory What is the cost of the goods manufactured for the year? 516,000 $24,000 $12,000 $4,000 QUESTION 25 Fruit of the Loom uses the cost formula Y-$5,000+ $0.50X for the maintenance cost on its machines, where X is machine hours. The July budget is based on 6,000 hours of planned machine time 5,000 hour of direct labor and 4,000 hours of supervisor hours. Maintenance cost expected to be incurred during July is $5,000 $8,000 $11,000 59,000