QS 18-11 Cost of goods manufactured LO P2 Prepare the schedule of cost of goods manufactured for Barton Company using the following information. Direct materials Direct labor Factory overhead costs Work in process, beginning Work in process, ending $ 190,500 63,150 24,000 157,600 142,750 Barton Company Schedule of Cost of Goods Manufactured Total manufacturing costs Total cost of work in process Cost of goods manufactured QS 18-12 Direct materials used LO P2 Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials inventory account is used only for direct materials. (Assume no indirect materials.) January 1 December 31 $ $ 6,000 12,000 8,500 7,500 9,000 5,500 Inventories Raw materials inventory Work in process inventory Finished goods inventory Activity during current year Materials purchased Direct labor Factory overhead $123,500 94,000 39,000 Cost of Direct Material Used is Computed as: QS 18-13 Trends in managerial accounting LO C6 Select each concept with its best description by selecting its letter in the dropdowns. A. Focuses on quality throughout the production process. B. Flexible product designs can be modified to accommodate customer choices. C. Every manager and employee constantly looks for ways to improve company operations. D. Reports on financial, social, and environmental performance. E. Inventory is acquired or produced only as needed. 1. Just-in-time manufacturing 2. Continuous improvements 3. Customer orientation 4. Total quality management 5. Triple bottom line