Prepare Statements for a Manufacturing Company: The following balances appeared in the accounts of J. B. Manufacturing during a current year.

Required: Reconstruct a cost of goods manufactured and sold statement and fill in the following missing data:

a. Cost of goods manufactured during the year.

b. Manufacturing costs incurred during the year.

c. Direct materials purchases during the year.

Transcribed Image Text:

Direct materials inventory Work in process inventory Finished goods inventory Direct materials used Cost of goods sold January 1 December 31 $ 18,300 17,700 $16,400 19,100 7,300 -0- 86,600 -0- 301,000 8,500