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The following chart shows how costs flow through a business as a product is manufactured. Some boxes in the flowchart show cost amounts. Compute the
The following chart shows how costs flow through a business as a product is manufactured. Some boxes in the flowchart show cost amounts. Compute the cost amounts for the input boxes. Materials Activity Raw materials purchases $560,000 Beginning raw materials inventory $152,500 Raw materials available for use in production $ Ending raw materials inventory $189,000 Direct materials used in production $ Production Activity Direct labor used in production $378,000 T. Factory overhead used in production $778,000 Beginning work in process inventory Total work in process Ending work in process inventory $ $91,500 $ Finished goods manufactured Sales Activity $1,600,500 Beginning finished goods inventory Finished goods available for salo Ending finished goods inventory $1,743,750 $140,650 Finished goods sold
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