The following information is available for the manufacturing operations of Argon Ltd. for the month of January:

Direct materials purchased	$40,000
Direct labour cost	$20,000
Direct labour hours	1,000
Factory overhead rate per direct labour hour	$12

	Opening inventory January 1	Ending inventory January 31
Direct materials	$25,000	$20,000
WIP	$15,000	$10,000
Finished goods	$45,000	$40,000

Required (SHOW YOUR WORK)

a) What is the Cost Of Goods Manufactured?

b) What is the Cost Of Goods Sold?

Please show work