14. As of December 31, 2015, Most Brilliant Professor Mullen, Ine had (E) $2,000 o of raw materials inventory. At the beginning of 2015, there was (BI) $1,600 of During the year, the company accrued purchases expense of $274,000 of mhnd d) were used on jobs during 2015? A) $274,400 B) $264,400 C) $263,600 D) $273,600 15. Cost of goods manufactured (CGM) equals $55,000 for 2015. Finished goods (FG) inventory is (BI) $2,000 at the beginning of the year and (ED) S5,500 at the end of the year. Beginning and ending work in process (WIP) for 2015 are (BI) S4,000 and (ED) $5,000, respectively How much is cost of goods sold (CGS) for the year? A) $57,500 B) $53,000 C) $51,500 D) $58,500 16. Bu Hao Lao Shu Company developed the following data for the current year: Beginning Work in Process (BI, WIP) Direct materials used (DM) Actual overhead (OH) Overhead applied (est OH) Cost of goods manufactured (CGM) Total manufacturing costs (TMC) $120,000 144,000 108,000 132,000 360,000 Bu Hao Lao Shu Company's Ending Work in Process (EL, WIP) inventory is A) $348,000. B) $240,000. C) $228,000. D) $108,000 17. Lao Shu Mfg provided the following information from its accounting records for 2015: 30,000 direct labor hours 28,000 direct labor hours $600,000 $580,000 Est. Direct Labor Hours (DLH) Actual Direct Labor Hours (DLH) Est. SS Overhead (OH) Actual SS Overhead (OH) How much is the (PDR) overhead rate if Lao Shu bases the rate on direct labor hours (DLH) A) $20.71 per hour B) $20.00 per hour C) $19.33 per hour D) $18.67 per hour