Question:
Bryant Enterprises reported the following for April:
|
Beginning balance, Raw Materials Inventory
|
$30,000
|
|
Beginning balance, Work in Process Inventory
|
48,000
|
|
Beginning balance, Finished Goods Inventory
|
17,000
|
|
Purchases of raw materials
|
54,000
|
|
Factory electricity
|
10,000
|
|
Direct labor payroll
|
32,000
|
|
Depreciation on factory equipment
|
35,000
|
|
Insurance on factory building
|
8,000
|
|
Indirect materials used in production
|
7,000
|
|
Total raw materials used in production
|
65,000
|
|
Indirect labor payroll
|
24,000
|
|
Cost of goods manufactured
|
200,000
|
|
Cost of goods sold
|
210,000
|
Required
1. How much direct materials were used in production?
2. How much manufacturing overhead was incurred during April?
3. What was the total manufacturing cost for the month of April?
4. What were the ending balances in the Raw Materials, Work in Process, and Finished Goods inventory accounts?