Question

cost accounting

Halston Manufacturing uses actual costing. The following events took place during the current year:

(1) Purchased $95,000 in direct materials.

(2) Incurred labor costs as follows: (a) direct, $56,000 and (b) indirect, $13,600.

(3) Other manufacturing overhead was $107,000, excluding indirect labor.

(4) Transferred 80% of the materials to the manufacturing assembly line.

(5) Completed 65% of the Work-in-Process during the year.

(6) Sold 85% of the completed goods.

(7) There were no beginning inventories.

 

Required:

(a) Determine the ending Direct Materials Inventory balance.

(b) Determine the ending Work-in-Process Inventory balance.

(c) Determine the ending Finished Goods Inventory balance.


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