Inventory cost flows (LO 3) 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 $  15,000 ?       $    6,000 $130,500 Purchases of direct materials ?       93,200 51,600 220,800 Total direct materials available for use 394,000 101,300 ?       ?       Direct Materials Inventory, ending 26,000 ?       ?       34,600 Direct materials used in production ?       71,200 ?       ?       Direct labor 212,000 ?       25,000 324,400 Total manufacturing overhead 254,400 97,500 64,300 ?       Total manufacturing cost ?       195,000 138,300 913,200 Beginning Work in Process Inventory ?       147,500 38,000 ?       Ending Work in Process Inventory 49,000 43,700 ?       49,900 Cost of goods manufactured 817,400 ?       103,450 920,300 Finished Goods Inventory, beginning 35,000 ?       ?       36,000 Cost of goods available for sale ?       393,000 140,050 ?       Finished Goods Inventory, ending ?       14,600 ?       42,400 Cost of Goods Sold 796,400 ?       108,400 ?

Question

Inventory cost flows (LO 3) 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
$  15,000
?      
$    6,000
$130,500
Purchases of direct materials
?      
93,200
51,600
220,800
Total direct materials available for use
394,000
101,300
?      
?      
Direct Materials Inventory, ending
26,000
?      
?      
34,600
Direct materials used in production
?      
71,200
?      
?      
Direct labor
212,000
?      
25,000
324,400
Total manufacturing overhead
254,400
97,500
64,300
?      
Total manufacturing cost
?      
195,000
138,300
913,200
Beginning Work in Process Inventory
?      
147,500
38,000
?      
Ending Work in Process Inventory
49,000
43,700
?      
49,900
Cost of goods manufactured
817,400
?      
103,450
920,300
Finished Goods Inventory, beginning
35,000
?      
?      
36,000
Cost of goods available for sale
?      
393,000
140,050
?      
Finished Goods Inventory, ending
?      
14,600
?      
42,400
Cost of Goods Sold
796,400
?      
108,400
?    

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