The accounting records of Crane Manufacturing Company include the following information: Dec. 31 Jan. 1 Work in process inventory $20,800 $52,000 Finished goods inventory 124,800 156,000 Direct materials used 364,000 Direct labor 166,400 Selling expenses 130,000 Manufacturing overhead is applied at a rate of 150% of direct labor cost. Answer the following questions: What is the total of the debits to Work in Process Inventory during the year? Total debits $ What is the amount transferred to Finished Goods Inventory during the year? Transferred to Finished Goods Inventory What is Cost of Goods Sold? Cost of goods sold Save for Later Attempts: 0 of 1 used Submit