A tomado struck the only manufacturing plant of Toledo Farm Implements (TFI) on June 1. All work-in-process inventory was destroyed, but a few records were salvaged from the wreckage and from the company's headquarters 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 Aprti financial statements at the company's downtown headquarters $101,000 167,300 64,000 698,400 41,200 Materials inventory. April 30 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 Apr Tayroll payable, April 30 withholding and other payroll liabilities, April 30 Overhead applied through April 30 171.500 30 20,200 359,400 A count of the inventories on hand May 31 shows the following: $85,000 Materials Inventory Work-in-process Inventory Finished goods Inventory 72,000 The accounts payable clerk tells you that outstanding bills to suppliers totaled $99.400 and that cash payments of $77,800 were made to them during the month. She informs you that the payroll costs last month for the manufacturing section included $172,000, of which $27,500 was indirect labor. yereutesceuring At the end of May, the following balances were available from the main office: $436,000 Manufacturing overhead through May 31 Coat of goods sold through May 31 796.600 Recall that each month there is only one requisition for Indirect materials. Among the fragments of paper, you located the following information, which you have neatly typed for your records: From scrap found under desk: Indirect materials + $4.238 You also learn that the overhead during the month was overappiled by $2.700 Required: Determine the cost of the work-in-process Inventory lost in the disaster Direct materials Direct labor Overhead applied Cost transferred to finished goods inventory Disaster loss