COLLEGE OF BUSINESS & FINANCIAL SCIENCES BUS 315 MANAGEMENT ACCOUNTING CHAPTER 3 - EXERCISES QUESTION: Bonita Company reported the following amounts for 2014: Raw materials purchased $83,000 Beginning raw materials inventory 5,900 Ending raw materials inventory Beginning finished goods inventory 7,600 Ending finished goods inventory 8,000 Direct laborused 24.000 Manufacturing overhead costs applied 38,000 Beginning work in process inventory 6,100 Ending work in process inventory 6,300 4,200 Instructions 1) Calculate (a) the cost of materials used in production and (b) total manufacturing costs. 2) Prepare the cost of goods manufactured schedule