a A Fandamentals of Cost Accounting, 5th Edition Aa nona 3) tharmade struck the only manufacturing plant of Toledo Farm ImplementsXce (7F) on June 1. All woek-in-process inventory was destroyed, but a few records were salvaged from the wreckage and from the company's headquarters. If acceptable documentation is provided, the loss will be covered by insurance. The insurable value of work- in process inventory consists of direct materials, direct labor, and applied overhead. The following information about the plant appears on the April financial statements at the company's downtown headquarters $ 98,000 172,400o 64,000 697,200 Materials inventory, April 3o Work-in-process inventory, April 30 Finished goods inventory, April 30 Cost of goods sold through April 30 Accounts payable (materials suppliers), April 30 Manufacturing overhead through April 30 Payroll payable, April 30 Withholding and other payroll liabilities, April 30 369,800 Overhead applied through April 30 19,400 359,200 A count of the inventories on hand May 31 shows the following: Page 278 A Fundamentas of Cost Accounting Sth Edition Aa ount of the imventories on heesd May i shows the follwing $86,000 Materlale imvintory Work-in-process inventory Finished goods inventory accounts payable elerk tells you that outstanding bills to sappliers totaled $:00,200 and incladed $164 800, of which $29400 payments of $7s.800 were made to them during the month. She infurms you that the payroll costs last month foe the manufacturing section was indirvet labot ae the end of May, the following halanees were available from the main office Manufacturing Overhead through May 3 $434.300 793.20 Cost of Goods Sold through May 31 Recall that each month there is only one requisition for indirect materials Anmong the fragments of paper, you located the folloning information, which you have neatly typed for your records From scrap found under desk: indirect materials $4,172 You also learn that the overhead during the month was overapplied by $2.40 Required Determine the cost of the work-in-process inventory lost in the disaster 755-Find Missing Data (LO 7-2.3)