The flow of manufacturing costs through the ledger accounts of ISP, Inc., in the current year is illustrated as follows in summarized form.

Instructions.
Indicate the following amounts requested. Some amounts are shown in the T accounts provided; others require short computations. (Show all computations.)
a. Purchases of direct materials.
b. The cost of direct materials used.
c. Direct labor costs assigned to production.
d. The year-end liability for direct wages payable.
e. The overhead as a percentage of direct labor costs.
f. Total manufacturing costs charged to the Work in Process Inventory account during the current year.
g. The cost of finished goods manufactured.
h. The year-end balance in the Work in Process Inventory account.
i. The cost of goods sold.
j. The total amount of inventory listed in the year-end balance sheet.

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Materials Inventory ? Direct Labor Beg. balance. $ 10,000 260,000 Ending balance $15,000 $139,000 Manufacturing Overhead $210,000 $140,000 Ending balance $1,000 $210,000 Beg. balance Ending balance Beg. balance Ending balance Work in Process Inventory $ 20,000 ? 140,000 210,000 ? Finished Goods Inventory $ 45,000 -608,000 $50,000 Cost of Goods Sold ? $608,000