Barber Company Produces and Sells Only One Product Required:
Determine the Ending Balances for Raw Materials, Goods in the Year

question 29

Essay

Barber Company produces and sells only one product.The company began the year with inventory balances as follows: Raw Materials $51, 700, Goods in Process $12, 000, and Finished Goods $123, 500.During the year, the following activity occurred:
$\begin{array}{lc}\text { Raw material purchases } & \$ 32,500 \\\text { Direct labor } & 77,700 \\\text { Inclirect labor } & 38,000 \\\text { Office rent } & 24,000 \\\text { Factory rent } & 120,000 \\\text { Depreciation-Office machinery } & 15,000 \\\text { Depreciation-Equipment } & 25,000 \\\text { Applied manufacturing overhead } & 300,000 \\\text { Factory insurance } & 20,000 \\\text { Raw materials used } & 40,000 \\\text { Miscellaneous manufacturing overhead } & 94,600 \\\text { Cost of goods manufactured } & 421,000 \\\text { Cost of goods sold } & 405,800\end{array}$
Required:
Determine the ending balances for Raw Materials, Goods in Process, and Finished Goods.

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Definitions:

Political Theft

Acts of theft or embezzlement committed within or against a governmental or political entity, often motivated by ideological reasons or personal gain.

Deviant Motivation

The drive or desire to engage in behavior that deviates from societal norms or expectations.

Deviant Opportunity

The chance or circumstances that enable or encourage individuals to engage in non-normative or socially unacceptable behaviors.

Social Control

Mechanisms, in the form of laws, norms, and customs, used by a society to regulate individual behavior and maintain order.