FineDisplays designs and manufactures displays used in mobile devices. Serious flooding throughout the region affected Fine Displays

FineDisplays' facilities. Inventory was completelyruined, and thecompany's computersystem, including all accountingrecords, was destroyed.

Raw materials , 598 000 Work in process $194 090 Finished goods , 5152 000 He remembers several schedules he learned in college that may help him get startedBefore the disaster recovery specialists clean the buildings Kandice Addington the company controller is anxious to salvage whatever records she can to support an insurance claim for the destroyed inventory . She is standing in what is left of the Accounting Department whin Tripp Myers , the cost accountant I didn't know mud could smell so bad , " Tripp says " What should I be looking for ? " Don't worry about beginning inventory numbers , " responds Kandice . " We'll get them from last year's annual report . We need first-quarter cost data . " I was working on the first - quarter results just before the storm hit ," Tripp says " Look my export's still in my desk drawer But all I can make out is that for the first quarter , material purchases were $524 000 and that direct labor manufacturing overhead (other than indirect materials ) and total manufacturing costs to account for were $514 090 9234 000 ; and $ 1 492 090 respectively . Wait , and cost of goods available for sale was $1 515 090 . " " Great , " says Kandice " I remember that sales for the period were approximately $1 7 million Given our gross profit of 25 / that's all you should need " Tripp is not sure about that , but decides to see what he can do with this informationFine Displays Calculation of Direct Materials Used For Current Year Beginning raw materials inventory 98.000 Plus Purchases of direct materials 524 000 Direct materials available for use 622000 Less : Ending raw materials inventory Direct materials used