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I need help on calculating this The following information has been extracted from the...

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Accounting

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I need help on calculating this

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

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