Question

pletes each statement or answers the question. 7) Messinger Manufacturing Company had the following account balances for the quarter ending March 31, unless otherwise noted: Work-in-process inventory (January 1) Work-in-process inventory (March 31) Finished goods inventory (January 1) Finished goods inventory (March 31) Direct materials used Indirect materials used Direct manufacturing labor Indirect manufacturing labor Property taxes on manufacturing plant building Salespersons' company vehicle costs Depreciation of manufacturing equipment Depreciation of office equipment Miscellaneous plant overhead Plant utilities General office expenses Marketing distribution costs $ 140,400 171,000 540,000 510,000 378,000 84,000 480,000 186,000 28,800 12,000 264,000 123,600 135,000 92,400 305,400 30,000

Answer 1

Req A
	Direct materials used		378,000
	Direct labor		480,000
	Factory overhead
	Indirect Material	84,000
	Indirect labor	186,000
	Property Tax	28,800
	Depreciation-m. Equipment	264,000
	Misc. Plant OH	135,000
	Plant Utilities	92,400	790,200
	Total manufacturing costs		1,648,200
	Add: Beginning goods in process inventory		140,400
	Total cost of goods in process		1,788,600
	Less: Ending goods in process inventory		171,000
	Cost of goods manufactured		1,617,600
Req B
	Beginning finished goods inventory		540,000
	Add: Cost of goods manufactured		1,617,600
	Cost of goods available for sale		2,157,600
	Less: Ending finished goods inventory		510,000
	Cost of goods sold		1,647,600