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Goofy Manufacturing Co. Operating information for the year ended December 31, 2016 Direct materials issued...

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Accounting

Goofy Manufacturing Co. Operating information for the year ended December 31, 2016

Direct materials issued to production $475,000 Indirect materials issued to production 95,000 Direct manufacturing labor -A- Inderect manufacturing labor 175,000 Property taxes on manufacturing plant building 27,000 Miscellaneous plant overhead 37,000 Salesperson' compnay vehicle costs 10,000 Depreciation of manufacturing equipment 264,000 Depreciation of office equipment 115,000 Plant utilities 92,400 General office expenses 300,000 Marketing and distribution costs 30,000 Sales Revenue 3,500,000 Cost of Goods Sold 1,549,800 Cost of Goods Manufactured 1,564,800 Total Manufacturing Costs incurred during 2016 1,595,400 Manufacturing Overhead Costs incurred during 2016 -B- Total Period Costs -C-

Inventory Accounts Balances 01/01/16 12/31/16 Work-in-process inventory -D- 171,000 Finished goods inventory 495,000 -E-

Required: Use the above information to find the missing amounts. A) Direct Manufacturing Labor B) Manufactuing Overhead Costs C) Total Period Costs D) WIP- 01/01/2016 E) Ending Inventory - 13/31/2016

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