Chapter 2 8. The Putt-Putt Manufacturing Company makes custom golf clubs. The following information pertains to a recent month's production activities: Beginning Work in Process Inventory Ending Work in Process Inventory Direct materials purchased Direct materials placed in production Direct labor costs incurred Cost of goods manufactured Cost of goods sold $16,000 12,000 35,000 32,000 14,000 68,000 75,000 What is the total amount of conversion costs incurred during the period? a. $18,000 b. $22,000 c. $32,000 d. $39,000 9. Considering the following information for 2003: Raw Materials Inventory, 1/1/03 $246,000 Work in Process Inventory, 1/1/03 412,000 Finished Goods Inventory, 1/1/03 172,000 Raw materials purchased 841,000 Raw materials issued to production 923,000 Direct labor costs incurred 184,000 Manufacturing overhead costs incurred 453,000 Cost of goods manufactured 1,619,000 Cost of goods sold 1,713,000 What is the balance in the Finished Goods Inventory at December 31, 2003? a. $19,000 b. $78,000 c. $113,000 d. $595,000