Costs and Balances Shaded cells have feedback At the end of February, after the second month of operations of Able Baker Charlie Company, Charles shows you the data he's collected, but he was unable to figure out some of the amounts. Review the following data and fill in the missing amounts on the chart for Able Baker Charlie Company. Note: It may be helpful to use accounts to map the flow of the amounts through the manufacturing accounts and solve for the missing dollar values. It may also be helpful to review the steps for determining the cost of materials used, total manufacturing cost incurred, and cost of goods manufactured Data for February $2,700 50% of materials inventory on Jan. 31 $12,000 Decrease in materials inventory Materials inventory on Feb. 28 Direct materials purchased Direct materials used 3 times the direct labor incurred Total manufacturing costs incurred in period Total manufacturing costs incurred in period Total manufacturing costs incurred in period $28,000 70% of Cost of Goods Manufactured $8,000 less than Cost of Goods Sold Account Balances Costs Incurred Jan. 31 Feb. 28 Account Materials Inventory Direct Materials Used Work in Process Inventory 27,000 Direct Labor Incurred Finished Goods Inventory 16,000 Factory Overhead Incurred 8,200x Cost of Goods Sold Points 0/8 Feedback Check My Work Set up T accounts for Materials, Work in Process, Finished Goods, and Cost of Goods Sold