The Younce Equipment Company Provided You with the Following Information

question 128

Essay

The Younce Equipment Company provided you with the following information for the fiscal year ended December 31.
$\begin{array}{lr}\text { Work-in-process inventory, 12/31 } & \$ 28,950 \\\text { Finished goods inventory, 1/1 } & 153,700 \\\text { Direct labor costs incurred } & 502,150 \\\text { Manufacturing overhead costs } & 1,364,700 \\\text { Direct materials inventory, 1/1 } & 125,400\\\text { Finished goods inventory, \( 12 / 31 \)}&255,500\\\text { Direct materials purchased}&875,100\\\text { Work-in-process inventory, \( 1 / 1 \)}&50,500\\\text { Direct materials inventory, \( 12 / 31 \)}&84,700\end{array}$

Required:
(a) Compute the total manufacturing costs incurred during the year.
(b) Compute the total work-in-process during the year.
(c) Compute the cost of goods manufactured during the year.
(d) Compute the cost of goods sold during the year.

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Definitions:

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