Materials Inventory Beginning balance Purchases Available for production Used Ending balance Direct manufacturing labor 105 150 144 365 265 231 470 415 375 385 225 201 85 191 174 895 937 Variable manufacturing overhead Fixed manufacturing overhead actual Total manufacturing overhead costs 265 215 209 185 254 450 463 Total manufacturing costs incurred 1,610 1,525 Work in Process Inventory Beginning balance Manufacturing costs incurred Available for production Cost of goods manufactured Ending balance 230 203 214 1,525 1,728 1,815 1,660 307 Finished Goods Inventory Beginning balance 130 91 109 Cost of goods manufactured 1,660 1,406 1,508 Cost of goods available for sale 1,617 Cost of goods sold (based on actual Fixed MOH) Ending balance 101 69 94 Income Statement Revenue 2,501 2,501 3,003 Cost of goods sold (based on actual Fixed MOH) 0 0 Gross Profit 2,501 3,003 Period Costs 663 1,792 Profit before Tax 510 -312 Balance Sheet - Inventories (Asset) Beginning balance Ending balance 465 467 581 575