II Problems 1. Battery Inc., had the following activities during 2014: Direct materials: Beginning inventory Purchases Ending inventory $ 50,000 125,300 25,800 Direct manufacturing labor Indirect materials Indirect labor Manufacturing supplies Depreciation-manufacturing equipment Commission expense Factory insurance General administration expense Beginning work-in-process inventory Ending work-in-process inventory Beginning finished goods inventory Ending finished goods inventory 39,000 12,500 23,650 29,575 15,500 32,500 58,900 60,000 2,600 7,900 55,400 32,940 I Required: a. Prepare a Statement of Cost of Goods Manufactured and Sold Battery, Inc. Statement of Cost of Goods Manufactured and Cost of Goods Sold For the year ended December 31, 2014 Direct Materials: Beginning inventory Purchases of materials Materials available for use Ending inventory Direct Materials used Direct manufacturing labor Manufacturing overhead: Total manufacturing overhead Total manufacturing costs Work in process (beginning) Work in process (ending) Cost of Goods Manufactured Finished goods (beginning) Finished goods (ending) Cost of goods sold