Selected account balances for the year ended December 31 are provided below for Superior Company:
| |
| Selling and administrative salaries |
$ |
110,000 |
| Insurance, factory |
|
8,000 |
| Utilities, factory |
|
45,000 |
| Purchases of raw materials |
|
290,000 |
| Indirect labour |
|
60,000 |
| Direct labour |
|
? |
| Advertising expense |
|
80,000 |
| Cleaning supplies, factory |
|
7,000 |
| Sales commissions |
|
50,000 |
| Rent, factory building |
|
120,000 |
| Maintenance, factory |
|
30,000 |
|
| Inventory balances at the beginning and end of the year were as follows: |
|
Beginning of
the Year |
End of
the Year |
| Raw materials |
$ |
40,000 |
$ |
10,000 |
| Work in process |
|
? |
|
35,000 |
| Finished goods |
|
50,000 |
|
? |
|
The total manufacturing costs for the year were $683,000, the goods available for sale totalled $740,000, and the cost of goods sold totalled $660,000.