The cost of goods manufactured and the cost of goods sold will be $910000 and $930000 respectively.
<h3>How to calculate the cost?</h3>
Begining direct material inventory = 20000
Direct material purchase = 40000
Direct materials available = 60000
Ending inventory = -10000
Direct materials used = 50000
Direct labor = 800000.
Total factory overhead = 100000
Total manufacturing cost= 95000
Begining design = 60000
Ending design in process = -100000
Cost of goods manufactured = 910000
Beginning finished goods inventory = 300000
Ending finished goods inventory = -280000
Cost of goods sold = 930000
The dominant cost in the cost of goods sold is the direct labor cost of $800,000.
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