Question5

Constanza Company has the following balances as of the year ended December 31, 2010:

Raw Materials Inventory $30,000 WIP Inventory 69,000 Finished Goods Inventory 99,000 Cost of Goods Sold 149,000

Additional information is as follows:

Cost of raw materials purchased during 2010 $82,000 Cost of direct materials required in 2010 74,000 Cost of goods completed during 2010 204,000 Factory overhead applied (120% of direct labor) 96,000

1. How much is the beginning raw materials inventory?
2. What amount is the beginning WIP inventory?
3. How much is the beginning finished goods inventory?