The following information was obtained from the records of Appleton Corporation during 2009.

• Manufacturing Overhead was applied at a rate of 80 percent of direct labor dollars.

• Beginning value of inventory follows:

• Beginning Work in Process Inventory, \($10,000.\)

• Beginning Finished Goods Inventory, \($20,000.\)

• During the period, Work in Process Inventory increased by 20 percent, and Finished Goods Inventory decreased by 25 percent.

• Actual manufacturing overhead costs were \($85,000.\)

• Sales were \($400,000.\)

• Adjusted Cost of Goods Sold was \($300,000.\)

Required:

Use the preceding information to find the missing values in the following table:

Transcribed Image Text:

Item Direct materials used in production Direct labor Manufacturing overhead applied Total current manufacturing costs Plus: Beginning work in process inventory Less: Ending work in process inventory Cost of goods manufactured Plus: Beginning finished goods inventory Less: Ending finished goods inventory Unadjusted cost of goods sold Overhead adjustment Adjusted cost of goods sold Amount $ ? ? 80,000 ? 10,000 ? ? 20,000 ? ? ? 300,000