Question1) ABC Company has the following data:

Beginning Ending

Raw material 10,000 15,000

Work in Process 5,000 7,000

Ending Inventory 9,000 10,000

Moreover, the company has purchased 50,000 raw material. The direct labor cost equal to 55,000 and the manufacturing overhead applied equal to 60,000.

Required:

Calculate the companys 1) cost of goods manufactured and 2) cost of goods sold.