ces (1/1) (12/31) Raw Materials Inventory Work in Process Inventory Finished Goods Inventory $13,000 $10,000 $29,000...

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ces (1/1) (12/31) Raw Materials Inventory Work in Process Inventory Finished Goods Inventory $13,000 $10,000 $29,000 $22,000 $41,000 $32,000 The following transactions have occurred during the year. Raw materials purchases Direct materials used Direct labor Indirect materials used Indirect labor $100,000 $ 87,000 $135,000 $ 16,000 $ 19,000 Factory equipment depreciation $ 28,000 Factory rent Factory utilities Other factory costs $ 15,000 $ 11,500 $ 8,500 (a) Calculate the predetermined overhead rate. Predetermined Overhead Rate 80% (b) Calculate cost of goods manufactured. Cost of Goods Manufactured Prev 19 of 3 ces (1/1) (12/31) Raw Materials Inventory Work in Process Inventory Finished Goods Inventory $13,000 $10,000 $29,000 $22,000 $41,000 $32,000 The following transactions have occurred during the year. Raw materials purchases Direct materials used Direct labor Indirect materials used Indirect labor $100,000 $ 87,000 $135,000 $ 16,000 $ 19,000 Factory equipment depreciation $ 28,000 Factory rent Factory utilities Other factory costs $ 15,000 $ 11,500 $ 8,500 (a) Calculate the predetermined overhead rate. Predetermined Overhead Rate 80% (b) Calculate cost of goods manufactured. Cost of Goods Manufactured Prev 19 of 3