Prob. #1. Shoe Town makes loafers and sneakers. Last year Show Town incurred manufacturing costs of...

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Prob. #1. Shoe Town makes loafers and sneakers. Last year Show Town incurred manufacturing costs of $28.5 million. Of this amount, $2.3 million was direct materials used and $18.8 million was direct labour Beginning balance for the year were as follows: DM Inventory - $0.9 million, WIP Inventory - $1.2 million, and FG Inventory $0.4 million. At the end of the year, inventory accounts showed the following amounts: Direct material WIP Finished Goods Required: Materials ($) million Direct labour ($) million 0.60 0 0.60 0.65 0.10 0.35 Manufacturing Overhead ($) million 0 0.45 0.05 1. Compute Shoe Town's cost of goods manufactured for the year. 2. Compute Shoe Towns' cost of goods sold for the year. 3. Compute cost of materials purchased during the year. Draht Prob. #1. Shoe Town makes loafers and sneakers. Last year Show Town incurred manufacturing costs of $28.5 million. Of this amount, $2.3 million was direct materials used and $18.8 million was direct labour Beginning balance for the year were as follows: DM Inventory - $0.9 million, WIP Inventory - $1.2 million, and FG Inventory $0.4 million. At the end of the year, inventory accounts showed the following amounts: Direct material WIP Finished Goods Required: Materials ($) million Direct labour ($) million 0.60 0 0.60 0.65 0.10 0.35 Manufacturing Overhead ($) million 0 0.45 0.05 1. Compute Shoe Town's cost of goods manufactured for the year. 2. Compute Shoe Towns' cost of goods sold for the year. 3. Compute cost of materials purchased during the year. Draht