The following chart shows how costs flow through a business as a product is manufactured. Some boxes
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Materials Activity Raw materials purchases $1,064,000 Beginning raw materials inventory $291,000 Raw materials available for use in production Ending raw materials inventory $350,000 Direct materials used in production Production Activity Direct labor used in production $700,000 Factory overhead used in production $1,500,000 Beginning goods in process inventory $169,000 Total goods in process Ending goods in process inventory Finished goods manufactured $3,187,000 Sales Activity Beginning finished Finished goods goods inventoryavailable for sale goods inventory $3480,500 Ending finished $279,900 Finished goods sold
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