Bass Shoe Company makes loafers. During the most recent year, Bass incurred total manufacturing costs of \($21.4\) M. Of this amount, \($3.0\) M was direct materials used and \($13.8\) M was direct labor. Beginning balances for the year were Direct Materials Inventory, \($.7\) M; Work in Process Inventory, \($.9\) M; and Finished Goods Inventory, \($.4\) M. At the end of the year, inventory accounts showed these amounts:

Requirements 

Refer to Exhibit 18-11. Compute:

1. Bass Shoe Company's cost of goods manufactured for the year.

2. Bass's cost of goods sold for the year.

3. The cost of materials purchased during the year.

Transcribed Image Text:

Direct Manufacturing Materials Labor Overhead Direct Materials Inventory.. Work in Process Inventory. Finished Goods Inventory. $.6M $ -0- $ -0- .4M .45M .15M .1M .15M .05M