Answer:
<u>Materials Ending Inventory </u> $ 29,914
Ending Work In Process 214420
Closing Finished Goods $ 37,000
Explanation:
Dr Cr
Direct Materials (opening Inventory) $29,300
Add Purchases $1,041,000
<u>Less Ending Inventory </u> $ 29,914
Direct Materials Used $427,000
Conversion Costs
Add Direct Labor $ 312240
Factory Over Head $ 179,000 <u> $491240 </u>
Add Beginning Work In Process $151,000
Less Ending Work In Process 214420
Cost Of Goods Manufactured $855,000
Add opening Finished Goods $257,000
Cost of Goods Available for Sale $1112,000
Less Closing Finished Goods $ 37,000
Cost Of Goods Sold $1,075,000
Working
Costs incurred during the period
Direct Materials Used In Production $427,000
Direct Labor = 24000*$13.01= $ 312240
Manufacturing Overheads $ 179,000