The following balances are from the accounts of Secol Machining Company:

Direct materials purchased during the year amount to \($310,000,\) and the cost of goods sold for the year was \($1,075,000\).

Required

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

a. Cost of direct materials used during the year.

b. Cost of goods manufactured during the year.

c. Total manufacturing costs incurred during the year.

Transcribed Image Text:

Direct materials inventory Work-in-process inventory Finished goods inventory. January 1 (Beginning) $48,000 58,000 43,800 December 31 (Ending) $59,000 56,000 45,000