Question

The following information is taken from the accounting records of four different companies. Provide the missing amounts. Assume there are no indirect materials used in the company’s finished product.

		Company 1		Company 2		Company 3		Company 4
Direct Materials Inventory, beginning		$15,400		$		$6,000		$165,300
Purchases of direct materials				86,400		52,600		258,800
Total direct materials available for use		394,600		111,600
Direct Materials Inventory, ending		26,700						59,350
Direct materials used in production				90,800
Direct labor		212,700				25,500		299,100
Total manufacturing overhead		255,400		107,300		64,300
Total manufacturing cost				233,800		138,300		927,050
Beginning Work in Process Inventory				162,500		39,000
Ending Work in Process Inventory		49,000		35,600				83,050
Cost of goods manufactured		817,400				104,450		985,500
Finished Goods Inventory, beginning		35,100						25,000
Cost of goods available for sale				423,000		140,050
Finished Goods Inventory, ending				12,100				50,900
Cost of Goods Sold		797,400				108,400

Answer 1

				Company 1	Company 2	Company 3	Company 4
Direct material inventory		15400		25200		6000		165300
Purchase of direct material		379200		86400		52600		258800
Total Direct material available for use	394600		111600		58600		424100
Direct material inventory ending	26700		20,800		10100		59350
Direct material used in production	367900		90,800		48500		364750
Direct labour			212700		35,700		25500		299100
Total Manufacturing overheads		255400		107300		64300		263200
Total Manufacturing cost		836000		233800		138300		927050
Beginning WIP inventory		30400		1,62,500		39000		141500
Ending WIP inventory		49000		35,600		72850		83050
Cost of goods manufactured		817400		3,60,700		104450		985500
Finished goods inventory beginning	35100		62,300		35600		25000
Cost of goods available for sale		852500		4,23,000		140050		1010500
Finished goods inventory ending		55100		12,100		32050		50900
Cost of goods sold			797400		4,10,900		108000		959600