The following information has been extracted from the records of ABC Company:

The following information has been extracted from the records of ABC Company: Finished goods, January 1, 2019 80,000 Direct materials, January 1, 2019 60,000 Finished goods, December 31, 2019 24,000 Work-in-process, January 1, 2019 20,000 Direct materials, December 31, 2019 10,000 Work-in-process, December 31, 2019 4,000 Marketing and customer services costs 80,000 Direct materials purchased 160,000 Direct manufacturing labor 80,000 Indirect manufacturing labor 40,000 Amortization - Plant, property & equipment 18,000 Plant Utilities 10,000 Plant Supplies 34,000 Required: a) Compute the Direct Materials used. (3 Marks) b) Compute cost of goods manufactured if Direct Materials (5 Marks) used is: $ 250,000 c) Compute the Cost of Goods Sold if Cost of Goods (2 Marks) manufactured is: $ 500,000