The accounting records of Cinotti Manufacturing Company include the following information:

HOW DO YOU GET 370,000 IN WORK IN PROCESS,367,600 IN FINISHED GOODS AND 1,500 COST OF GOODS SOLD???

	Dec. 31, 2017	Dec. 31, 2016
Work in process inventory	$ 10,700	$ 12,200
Finished goods inventory	35,000	32,600
Materials purchased	116,300
Raw materials inventory	?	18,000
Indirect materials transferred to production	12,100
Direct materials used	115,400
Manufacturing overhead applied	133,100
Manufacturing overhead incurred	134,600
Direct labor incurred	120,000
Selling expenses	67,000

Calculate the following:

1. Raw materials inventory at 12-31-17

Raw Materials
18,000
116,300
	12,100
	115,400
6,800

2. Total manufacturing costs during 2017

$115,400 + $133,100 + $120,000 = $368,500

3. Cost of goods manufactured during 2017

Work in Process
12,200
115,400
133,100
120,000
	370,000
10,700

4. Cost of goods sold for 2017

Finished Goods			Cost of Goods Sold			Mfg Overhead
32,600
			367,600			134,600
370,000							133,100
	367,600		367,600			1,500
			1,500				1,500
35,000			369,100			0	HOW DO YOU GET 370,000 IN WORK IN PROCESS,367,600 IN FINISHED GOODS AND 1,500 COST OF GOODS SOLD