Question: XYZ Company is a manufacturing company that produces and sells widgets. The company incurred the following costs during the month of January:

- Direct materials used: $10,000
- Direct labor: $15,000
- Factory overhead: $8,000
- Selling and administrative expenses: $5,000

During the month, the company produced 2,000 widgets and sold 1,800 widgets. The selling price per widget was $20.

a) Calculate the cost of goods manufactured.
b) Calculate the cost of goods sold.
c) Calculate the gross profit for the month.
d) Calculate the net income for the month.