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Good Slings Inc. manufactures several wood and string instruments. In particular, it is well-known for its production of classic violins. Assume that Good Slings uses

Good Slings Inc. manufactures several wood and string instruments. In particular, it is well-known for its production of classic violins. Assume that Good Slings uses a periodic inventory system and a physical count of inventory takes place at year end. The company accumulated the following costs and account balances for the year ended December 31, 2019 with respect to direct materials:

Balance of materials on January 1, 2019 $152,000
Balance of materials on December 31, 2019 $142,000
Materials purchases during 2019 $721,000

In addition, the following table shows Good Slings' remaining costs for the year:

Indirect materials $56,000
Direct labor $295,000
Indirect labor $162,000
Utilities, factory $67,000
Utilities, office $18,000
Insurance, factory $12,000
Advertising $22,000

Do not enter dollar signs or commas in the input boxes. a) Calculate the cost of direct materials used in production for the year. Materials used in production: $_________

b) What is the total manufacturing overhead cost for the year? Manufacturing Overhead: $_______

c) Calculate total manufacturing costs. Total Manufacturing Costs: $_______

d) If there is no beginning work in process inventory and ending work in process inventory is $55,000, what is the cost of goods manufactured? Cost of Goods Manufactured: $__________

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