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The following chart shows how costs flow through a business as a product is manufactured. All boxes in the chart show cost amounts. Compute the
The following chart shows how costs flow through a business as a product is manufactured. All boxes in the chart show cost amounts. Compute the cost amounts in the empty boxes. Materials Activity Raw materials purchases $562,000 Raw materials Inventory, beginning $153,000 Raw materials available for use in production Raw materials Inventory, ending $190,000 Production Activity Direct labor used in production $380,000 Work in process Inventory, beginning $92,000 Direct materials used In production Total work in proces Cost of goods manufactured $1,601,000 Factory overhead used in production $780,000 Work in process Inventory, ending Raw materials Inventory, beginning $153,000 Raw materials available for use in production $ Raw materials Inventory, ending $190,000 Production Activity Direct labor used in production $380,000 Work In process Inventory, beginning $92,000 Direct materials used in production $ Total work in process $ Cost of goods manufactured $1,601,000 Factory overhead used in production $780,000 Work In process Inventory, ending $ Sales Activity Finished goods Inventory, beginning $ Cost of goods available for sale $1,744,000 Cost of goods sold $ Finished goods Inventory, ending $140,700
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