calculate finished goods July 1 direct material July 31 work in process July 31 cost of goods sold

July 1 July 31 $ 36,500 41,000 55,000 16,380 24,220 14,000 Inventories Direct Materials Work-in-process Finished Goods Cost of Goods Sold Direct materials purchased in July Materials issued to production: X13 X14 X15 Factory labor hours used ($30/hour): X13 X14 X15 Indirect labor Other factory overhead costs incurred: Rent Utilities Repairs and maintenance Depreciation Other 3,500 2,800 1,600 6,900 $131,500 188,600 188,500 131,100 56,000 July 1 July 31 $ 36,500 41,000 55,000 16,380 24,220 14,000 Inventories Direct Materials Work-in-process Finished Goods Cost of Goods Sold Direct materials purchased in July Materials issued to production: X13 X14 X15 Factory labor hours used ($30/hour): X13 X14 X15 Indirect labor Other factory overhead costs incurred: Rent Utilities Repairs and maintenance Depreciation Other 3,500 2,800 1,600 6,900 $131,500 188,600 188,500 131,100 56,000