CASE STUDY QUESTION The Flying Paper Company manufac- tures the Executive Paper Airplane. These are sophisticated versions of the third-grade models, folded by a patented process, and manufactured from special mylar-reinforced paper, which is heat-fused for durability in the boardroom. The only copy of the October manu- facturing cost report was inadvert- ently left on the fusing machine. The motivated operator, not wishing to waste material, folded it into the pa- tented shape and sent it through the fusing machine. When the plant man- ager realized what had happened and retrieved it, she was able to unfold and flatten most of the report, but some of the numbers were erased by the fusing process. Your mission: Insert the num- bers at the dotted lines. Direct material (special paper): Inventory October 1: 100,000 sheets @ 20 $ 20,000 Purchased during October, 300,000 sheets @ 20 60,000 Total paper available 80,000 Inventory October 31: 50,000 sheets @ 20 10,000 Used in production sheets @ 20 Direct labor: 8,750 hours @ $10 per hour 87,500 Factory overhead 17,500 Total manufacturing cost Work-in-process (valued at cost of 25 each): Inventory October 1: 1,000 units 250 Total manufacturing cost 175,000 Subtotal Inventory October 31: 1,500 units Cost of goods manufactured (finished goods) Finished goods: Inventory October 1: 100,000 paper airplanes @ 50 50,000 Goods available for sale Inventory October 31: 40,000 airplanes @ 50 20,000 Cost of goods sold $