Dale Corporation began fiscal year 2014 with the following balances in its inventory accounts.   Raw Materials $ 54,100   Work in Process   82,100   Finished Goods   26,400       During the accounting period, Dale purchased $238,400 of raw materials and issued $249,000 of materials to the production department. Direct labor costs for the period amounted to $323,800, and manufacturing overhead of $46,900 was applied to Work in Process Inventory. Assume that there was no over- or underapplied overhead. Goods costing $610,300 to produce were completed and transferred to Finished Goods Inventory. Goods costing $601,700 were sold for $801,300 during the period. Selling and administrative expenses amounted to $70,200.   Required: a. Determine the ending balance of each of the three inventory accounts that would appear on the year-end balance sheet.       Ending Balance Raw materials   Work in process   Finished goods     b. Prepare a schedule of cost of goods manufactured and sold and an income statement. DALE CORPORATION Cost of Goods Manufactured and Sold Schedule For 2014         Raw materials available       Raw materials used           Total manufacturing costs       Total work in process inventory       Cost of goods manufactured       Goods available for sale       Cost of goods sold   DALE CORPORATIOn   Income Statement For 2014

Vikrambhai

The balances in the perpetual inventory accounts of Anditon Manufacturing Corporation at the beginning and end of the current year are as follows: Inventory accounts: Materials Work in Process Finished Goods Inventory Account: Materials Inventory Direct Labor The total dollar amounts debited and credited during the year to the accounts used in recording manufacturing activities are as follows: Manufacturing Overhead Work in Process Inventory Finished Goods Inventory End of Year $ 126,000 109,000 325,000 Beginning of Year $ 222,000 75,000 238,000 Required A Required B Debit Entries $ 2,410,000 1,189,000 893,600 ? ? Credit Entries Required: a. Using these data, compute direct materials purchased, direct materials used, payments of direct labor payrolls, direct labor cost assigned to production, total manufacturing costs charged to the work in process inventory account during the year, the cost of finished goods manufactured, cost of goods sold, the total amount to be classified as…

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