Question

True Ft Shoe Company mal fers. During the most recent year, True FR incurred total manufacturing costs of $20,800,000. Of Beginning balanced for the year were Direct Materiale $900,000; Work in Process Inventory, $800,000, and Finished Goods Invent Work in Process Inventory S1,600,000, and Finished Goods Inventory, $1,500,000 Read the requirements Requirement 1. Analyze the inventory accounts to determine the cost of direct materiale purchased during the year Direct Direct Materials Used Beginning Direct Materials 2,600,000 (900.000) 600,000 2.300.000 Ending Direct Materials Purchase Requirement 2. Analyze the inventory accounts to determine the cost of goods manufactured for the year Work-in-Process Beginning Work Process Invento Direct Materials Used Direct Labor Manufacturing Overhead Total Manc ing Costs incurred during the Year Total Manufacturing Costs to Account For Ending Work Proceso Cost of Goods Manufactured Enter any number in the edited and then click Check Answer 1 1 part maining Clear All

Answer 1

1	DIRECT MATERIALS
		$
	Direct Materials Used	2,600,000.00
	Beginning Direct Materials	(900,000.00)
	Ending Direct Materials	600,000.00
	Purchases	2,300,000.00
2	Work-in-Process
		$	$
	Beginning Work in process inventory		800,000.00
	Cost of direct materials used in production	2,600,000.00
	Direct labor	13,800,000.00
	Factory overhead	4,400,000.00
	Total Manufacturing costs incurred during the year		20,800,000.00
	Total manufacturing costs to account for		21,600,000.00
	Less: Ending work in process inventory		(1,600,000.00)
	Cost of goods manufactured		20,000,000.00