During the year, a company purchased raw materials of $77,321 ,and incurred direct labor costs of $125,900. Overhead is applied at the rate of

75% of the direct labor cost. These are the inventory balances:

Beginning Ending

Raw materials inventory $ 17,433 $ 16,428

Work in process inventory 241,439 234,423

Finished goods inventory 312,842 342,384

Compute the cost of materials used in production, the cost of goodsmanufactured, and the cost of goods sold.

Raw Materials

Beginning inventory

Purchases

Material available for use

Ending inventory

Materials used in production

Work in Process Inventory

Beginning inventory

Materials used in production

Direct labor

Overhead applied

Manufacturing costs incurred

Ending inventory

Cost of goods manufactured

Finished Goods Inventory

Beginning inventory

Cost of goods manufactured

Goods available for sale

Ending inventory

Cost of goods sold