Question
6) The following list indicates costs as they flow through the business as a product is manufactured. Some items are missing. Compute the missing amounts.
6) The following list indicates costs as they flow through the business as a product is manufactured. Some items are missing. Compute the missing amounts. Materials Inventory: Beginning materials inventory $ 295,000 Raw materials purchased 1,065,400 Ending materials inventory 315,750 Direct materials used in production ____A____ Goods in process: Beginning GIP balance ____B____ Direct labor 700,000 Factory overhead 1,475,000 Cost of goods manufactured 3,150,700 Ending GIP balance 265,000 Finished goods inventory: Beginning FG balance 284,000 Ending FG balance 268,500 Cost of goods sold ____C____
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