Use the following information for the next TWO questions: KMP Company uses a job-order costing system and started the month of May with a zero balance in its work in process and finished goods inventory accounts. During May, KMP worked on three jobs and incurred the following direct costs on those jobs: Direct materials Direct labor Machine hours used Job Mi $10,000 $12,000 50 Job M2 $8,000 $15,000 70 Job M3 $13,000 $20,000 30 KMP applies manufacturing overhead at a rate of $100 per machine hour. During May, KMP completed Jobs M2 and M3 and sold Job M3. 8. The Finished Goods balance at the end of May was: a. $27,000 b. $33,000 c. $23,000. d. $30,000 9. Cost of goods manufactured for May was: a. $66,000 b. $82,000. c. $93,000 d. $70,000