Remaining Time: 1 hour, 26 minutes, 33 seconds. Question Completion Status: Warry Manufacturing Company had the following account balances for the quarter ending March ST. Work-in-process inventory (January 1) Work-in-process inventory (March 31) $ 140,000 169.000 Finished goods inventory (January 1) 420,000 Finished goods inventory (March 31) 480,000 Materials inventory (January 1) 334,000 Materials inventory (March 31) 400,000 Materials purchased Indirect materials used 550,000 84,000 Direct manufacturing labor 350,000 Indirect manufacturing labor 186,000 Property taxes on manufacturing plant building 28,800 Salespersons' company vehicle costs 12.000 Depreciation of manufacturing equipment 260,000 Depreciation of office equipment 123,600 Miscellaneous plant overhead 135,000 Plant utilities 92,500 General office expenses 305,400 Property taxes office building 45,000 Marketing distribution costs 30,000 Required: Prepare a Cost of Goods Manufactured Schedule for the quarter. (6 marks) Explain the difference between an inventoriable and a period cost. (1 mark) Prepare a Cost of Goods Sold schedule for the quarter. (4 marks) Indicate the effect on expenses, assets and profits of misclassifying inventoriable costs of a manufacturing company as period costs - when you have no ending balances of finished goods and WIP. (1 mark) Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers 28 3