*Part 1*
The balance in the perpetual inventory accounts of Addition Manufacturing Corporation at the beginning and end the current year are as follows:
Inventory Accounts: End of YearBeginning of Year
Materials:$126,000$222,000
WIP:$109,000$75,000
Finished Goods Inventory$325,000$238,000
The total dollar amount debited and credited during year to the accounts used in recording manufacturing activities are as follows:
Accounts:Debit EntriesCredit Entries
Material Inv. $2,410,000?
Direct Labor1,189,000992,000
Maufactu. Overhead.893,000893,600
WIP Inventory??
Finished Goods Inventory??
Calculate the following:
(Direct materials purchased)/(Direct Materials used)/(Payments of direct labor payrolls)/(Direct Cost assigned to production)/(Total manufacturing cost charged to WIP account during year)/(The cost of finished goods man.)/(Cost of goods sold)(total amount to be classified as inventory in yearend balance sheet)
*Part 2: Prepare a schedule of Finished goods Manufactured*
not specified
