Subject: Cost Accounting On December 31, 20x1, the Bikini Atoll Company with an outstanding capital stock of $ 30,000 had the following assets and liabilities (in $):

Cash- 5,000

Accounts Receivable - 10,000

Materials- 4,000

Work in Process- 2,000

Finished Goods- 6,000

Prepaid Expenses- 500

Fixed Assets (net)- 30,000

Current Liabilities - 17,500

During the year 20X2, the retained earnings account increased by 50% as a result of the year's business. No dividends were declared and paid during the year. Balances of accounts receivable, prepaid expenses, current liabilities, and capital stock were the same on December 31, 20X2 as they had been on December 31, 20X1. Inventories were reduced by exactly 50%, except for the finished goods inventory which was reduced by . Fixed assets (net) were reduced by the depreciation of $4,000, charged to factory overhead and to administrative expenses. Sales of $60,000 were made on account of finished goods costing $38,000. Direct labor cost was equal to the applied factory overhead. The difference between the actual and applied factory overhead resulted in $2,000 unapplied that was closed into the cost of goods sold account. Total marketing and administrative expenses amounted to 10% and 15%, respectively, of the gross sales.

How much is the cost of goods manufactured? How much is the cost of materials used? How much is the cost of goods sold? How much is the sales? How much does the direct labor cost? How much are the total assets?