Question
Conrad, Inc. recently lost a portion of its records in an office fire. The following information was salvaged from the accounting records. Cost of Goods
Conrad, Inc. recently lost a portion of its records in an office fire. The following information was salvaged from the accounting records.
Cost of Goods Sold
$65,000
Work-in-Process Inventory, Beginning
10,500
Work-in-Process Inventory, Ending
9,000
Selling and Administrative Expense
15,000
Finished Goods Inventory, Ending
15,000
Finished Goods Inventory, Beginning
?
Direct Materials Used
?
Factory Overhead Applied
12,000
Operating Income
14,000
Direct Materials Inventory, Beginning
11,000
Direct Materials Inventory, Ending
6,000
Cost of Goods Manufactured
60,000
Direct labor cost incurred during the period amounted to 1.5 times the factory overhead. The CFO of Fisher, Inc. has asked you to recalculate the following accounts and to report to him by the end of the day. What is the amount of direct materials purchased?
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