= Raw Materials Inventory Work In Process Inventory 1/1 59,400 1/3 25.500 Finished Goods Inventory Cash 1/1 38.600 1/1 37.200 Accounts Receivable Accounts Payable 1/1 471300 1/1 41.900 During the year, the following events occurred: 1. Coronado purchased raw materials costing 5118.000 on account 2. Coronado used $149.300 of raw materials in production of these, 80% were classified as direct materials and 20% as indirect materials. Coronado maintains a single Raw Materials inventory account.) 3. Coronado used 31.900 hours of direct labor. The company's average direct labor rate was $11 per hour (credit Wages Payable 4 5. 6 The company's indirect labor cost was 5168,000 (credit Wapes Payable). Other manufacturing overhead costs the company incurred an account totaled 597400 Coronado applied 5316.800 in manufacturing overhead. The company completed production of good costing $795.400 The company's Cost of Goods Sold balance was 5801.300 before adjusting for over or underapplied overhead. Sales revenue was 51.000.000 (all sales were made on account 7 8, 9. 10 Coronado collected $802200 from custom = 10. Coronado collected $800.200 from customers 11. The company paid accounts payable of $201.300 12. At year end all wages eamed during the year had been paid (a) Record the transactions above in the appropriate Taccounts and calculate ending balances (Past entries in order presented in the problem Raw Materials Inventory Ba 59400 2 v 110000 20 149300 201000 Work in Process inventory 95500 114 Finished Goods Inventory Question 6 of 10 Finished Goods Inventory Cost of Goods Sold v Manufacturing Overhead > > Cash V > ( > $