Olivia’s Outdoor Essentials produces gear for climbing, hiking,and camping. Last month, Olivia reported the following: BeginningWork in Process Inventory: $20,000 Ending Work in ProcessInventory: $25,000 Beginning Finished Goods Inventory: $15,000Ending Finished Goods Inventory: $13,000 Direct Labor: $60,000Beginning Raw Materials Inventory: $20,000 New Raw MaterialsPurchased: $48,000 Ending Raw Materials Inventory: $10,000 IndirectMaterials Used: $8,000 Indirect Labor: $10,000 Other AppliedManufacturing Overhead: $30,000 Required: a. What was theManufacturing Costs for the period? b. What was the Cost of GoodsManufactured for the period? c. What was the Cost of Goods Sold forthe period?
