Problem 4-23 Of all the times this hard drive could crash, it had to be now, "Marcy cried. "How can I finish the June financial reports without all the information? I knew I should have backed up the disk last night before I left work." News of the disaster traveled quickly through the office, and people began to stop by her cubicle to offer their help John was the first to the rescue. "It might not be as bad as you think, Marcy. I have the financial reports from May right here. According to the balance sheet, we had a total inventory of $99,000 at the end of May. And I remember that the Finished Goods Inventory was one-third of that amount. I just finished the inventory counts last night," Peter chimed in from across the hall "According to my tally sheets, we finishedJune with $80,000 in Direct Materials Inventory, $52,000 in Work in Process Inventory, and $25 000 n Finished Goods Inventory. This was a 100% ncrease rom the balances n Direct atena s l re tory and work Process l entory at the end rvar,etv a more investigative work, we can get all the numbers you need to complete the reports." Sally called from Payroll to tell Marcy that the company had paid a total of $36,000 for direct labor during June. Juan, the billing supervisor, e-mailed Marcy that the company had sent out invoices to customers totaling $291,000. Marcy knew that the overhead rate was 200% of direct labor costs. She also knew that the company priced its product using a 50% markup on the cost of goods sold. Armed with all this information, she sat down to reconstruct the inventory accounts for June. (1) Calculate the begininng finished goods. (Round answer to the nearest dollar amount, e.g. 5,275.) Begininng finished goods (2) Calculate the beginning direct materials Begining direct material40000 (3) Calculate the beginning work in process. Beginning work in process 40000 Using the information available to Marcy, prepare T-accounts to reflect the inventory cost flows for June. (Post entries in order presented in the problem. Round answers to the nearest dollar amount, e.g. 5,275.) 0 Direct Materials Work in Process Finished Goods Prepare a schedule of cost of goods manufactured in good form. (Round answers to the nearest dollar amount, e.g. 5,275.) Schedule of Cost of Goods Manufactured Click if you would like to Show Work for this question: Open Show Work