QUESTION 1 1. Boston Company has the following balances as of the year ended December 31, 2015. Direct Materials Inventory WIP Inventory Finished Goods Inventory Cost of Goods Sold Additional information is as follows: $15,000 Dr. 34,500 Dr. 49,500 Dr. Cost of direct materials purchased during 2015 Cost of direct materials requisitioned in 2015 Cost of goods completed during 2015 Factory overhead applied (120% of direct labour) Underapplied factory overhead Required (SHOW ALL WORK): a. Compute beginning direct materials inventory. b. Compute beginning WIP inventory. 74,500 Dr. C. Compute beginning finished goods inventory. d. Compute actual factory overhead incurred. $41,000 47,000 102,000 48,000 4,000