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Cost Flow in a Manufacturing organization Given the following information, compute the ending balances of the Materials Inventory, Work In process Inventory, and Finished Goods

Cost Flow in a Manufacturing organization

Given the following information, compute the ending balances of the Materials Inventory, Work In process Inventory, and Finished Goods Inventory accounts:

Materials Inventory, beginning balance

$25,000

Work in Process Inventory, beginning balance

5,750

Finished Goods Inventory, beginning balance

38,000

Direct materials purchased

85,000

Direct materials used

74,000

Direct labor costs

70,000

Overhead costs

35,000

Cost of Goods manufactured

133,000

Cost of goods sold

103,375

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