Given the following information:
Manufacturing Overhead was applied at a rate of 100 percent of direct labor dollars
Beginning value of inventory follows:
Beginning Work in Process Inventory, $6,000
Beginning Finished Goods Inventory, $18,000
During the period, Work in Process Inventory decreased by 20 percent, and Finished Goods Inventory increased by 25 percent.
Actual manufacturing overhead costs were $93,000
Sales were $401,000
Adjusted Cost of Goods Sold was $310,000
Find the missing values:
Direct Materials used ?
Direct Labor ?
Manufactured Overhead Applied 86,000
Total Current Manufacturing Costs ?
Plus: begin WIP material 6,000
Less: ending WIP material ?
Cost of Goods Manufactured ?