If 40% of those purchased materials were consumed, were $2000

1: If 40% of those purchased materials were consumed, were $2000 consumed and $3000 left in inventory?

2: Does that mean that $3000 is my ending work in process inventory?

My statement of COGM is below with my questions in bold. Thanks for your help!

Statement of Cost of Goods Manufactured

INSTRUCTIONS: The following are the actual numbers for January:

Materials Purchased $5,000 of Materials Consumed 40% of those purchased materials

Direct Labor Direct Labor was $6,240

Factory Overhead Factory Overhead was $2,800

Sunshine Pet Services Statement of Cost of Goods Manufactured For the Month Ended January 31, xxxx

Beginning Work in Process Inventory $ –

Direct Materials: Materials – Beginning $ –

Add: Purchases for month of January 5,000

Materials Available for Use $ 5,000.00

Deduct: Ending Materials 3,000

Materials Used in Production $ 2,000.00

Direct Labor 6,240

Factory Overhead 2,800

Total Manufacturing Overhead $ 9,040.00

Deduct: Ending Work in Process Inventory 3000

Cost of Goods Manufactured $ 6040