eBook Print Item Question Content Area During the year, a company purchased raw materials of $77,323, and incurred direct labor costs of $125,800. Overhead is applied at the rate of 70% of the direct labor cost. These are the inventory balances: Beginning Ending Raw materials inventory $17,433 $16,426 Work in process inventory 241,439 234,425 Finished goods inventory 312,840 342,384 Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold. Cost of materials used in production $fill in the blank 1 Cost of goods manufactured $fill in the blank 2 Cost of goods sold $fill in the blank 3

eBook Print Item Question Content Area During the year, a company purchased raw materials of $77,323, and incurred direct labor costs of $125,800. Overhead is applied at the rate of 70% of the direct...

Jun 10, 2022

Cost of materials used in production	$fill in the blank 1
Cost of goods manufactured	$fill in the blank 2
Cost of goods sold	$fill in the blank 3