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2-42) Prepare Statements for a Manufacturing Company The following balances are from the accounts of Crabtree Machining Company. January 1 (Beginning) Direct materials inventory.. $115,200
2-42) Prepare Statements for a Manufacturing Company The following balances are from the accounts of Crabtree Machining Company. January 1 (Beginning) Direct materials inventory.. $115,200 Work-in-process inventory ........ 139,200 Finished goods inventory.......... 117,120 SELAMA December 31 (Ending) $141,600 134,400 108,000 MASTUS Direct materials purchased during the year amount to $717,600, and the cost of goods sold for the year was $2,606,880. 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
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