I would just like to see the math behind these questions. Its very short, only 4 MC questions.

CHAPTER 16 NAME The manufacturing cost accounts of Varsity Manufacturing Co. provide the following information for the year ended December 31, 2011: Direct materials used .................................................................................. Direct materials purchased.............................................................................. Direct labor cost assigned to production........................................................ Wages paid to direct workers.......................................................................... Manufacturing overhead costs applied to production................................... Cost of finished goods manufactured............................................................. $500,000 $520,000 $130,000 $120,000 $190,000 $850,000 Inventories at the beginning and end of the year were as follows: Dec. 31 . Materials...................................................................... Work in Process........................................................... Finished Goods............................................................ Jan. 1 $65,000 $15,000 $35,000 $ ? $10,000 $65,000 Answer the following questions. If you select answer d, indicate the correct amount. 1 Refer to the above data. The total amount of inventory that should appear in the company's balance sheet at December 31, 2011 is: a $115,000. c $85,000. b $860,000. d Some other amount. $____________ 2 Refer to the above data. The total manufacturing costs charged to the Work in Process Inventory account during 2011 amounted to: a $850,000. c $810,000. b $820,000. d Some other amount. $____________ 3 Refer to the above data. The total manufacturing costs deducted from revenue in 2011: amounted to: a $890,000. c $845,000. b $880,000. d Some other amount. $____________ 4 Refer to the above data. The balance in the Materials Inventory account at the beginning of 2011: was: a $65,000. c $45,000. b $85,000. d Some other amount. $____________ SOLUTION (1) The correct answer is Option A Ending materials inventory Ending Work in Process inventory Ending Finished Goods inventory Total inventory as on December 31, 2011 $65,000 $15,000 $35,000 $115,000 (2) The correct answer is Option B Direct materials used Direct labor cost assigned to production Manufacturing overhead costs applied to production Total manufacturing costs charged to the WIP Inventory account during 2011 $500,000 $130,000 $190,000 $820,000 (3) The correct answer is Option B Beginning Finished Goods inventory Cost of finished goods manufactured Ending Finished Goods inventory Total manufacturing costs deducted from revenue in 2011 / Cost of goods sold $65,000 $850,000 ($35,000) $880,000 (4) The correct answer is Option C Ending materials inventory Direct materials used Direct materials purchased Beginning materials inventory $65,000 $500,000 ($520,000) $45,000 SOLUTION (1) The correct answer is Option A Ending materials inventory Ending Work in Process inventory Ending Finished Goods inventory Total inventory as on December 31, 2011 $65,000 $15,000 $35,000 $115,000 (2) The correct answer is Option B Direct materials used Direct labor cost assigned to production Manufacturing overhead costs applied to production Total manufacturing costs charged to the WIP Inventory account during 2011 $500,000 $130,000 $190,000 $820,000 (3) The correct answer is Option B Beginning Finished Goods inventory Cost of finished goods manufactured Ending Finished Goods inventory Total manufacturing costs deducted from revenue in 2011 / Cost of goods sold $65,000 $850,000 ($35,000) $880,000 (4) The correct answer is Option C Ending materials inventory Direct materials used Direct materials purchased Beginning materials inventory $65,000 $500,000 ($520,000) $45,000