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lamentary Exercises - Flow of costs in a manufacturer ACC702 facturer has the following entries...

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Accounting

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lamentary Exercises - Flow of costs in a manufacturer ACC702 facturer has the following entries and costs in their inventory accounts: Amanufacturer Schedule of Cost of Goods Manufactured $80,000 $1,000,000 $72.500 Opening Balance Direct Materials Purchases Direct materials available for use Closing balance Cost of Direct Materials used in production Opening Balance Work in Process Direct Labour Overhead/indirect Costs Total cost of manufacturing Closing Balance Work in Process $106,250 $530,000 $975.000 $115,000 Schedule of Cost of Goods Sold Opening Balance Finished Goods Cost of goods manufactured (from above calculation) $175,000 Closing Balance Finished Goods $162,500 $3,562,500 Sales Cost of goods sold Gross Profit Required: Complete ALL 10 missing numbers AND LABELS in the Schedule of Cost of Goods Manufactured and the Schedule of Cost of Goods Sold IN THE PLACES PROVIDED HINT: Be careful with what you ADD together and consider what should be SUBTRACTED as you complete balancing each account balance

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