Answer:
Direct material used= $102,000
Cost of goods manufactured= $327,000
COGS= $347,000
Explanation:
<u>First, we need to calculate the cost of direct material used:</u>
Direct material used= beginning inventory + purchases - ending inventory
Direct material used= 28,000 + 105,000 - 31,000
Direct material used= $102,000
<u>Now, the cost of goods manufactured:</u>
cost of goods manufactured= beginning WIP + direct materials used + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 40,000 + 102,000 + 130,000 + 105,000 - 50,000
cost of goods manufactured= $327,000
<u>Finally, the cost of goods sold:</u>
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 80,000 + 327,000 - 60,000
COGS= $347,000
