At the Beginning of 2014, Conway Manufacturing Had the Following

question 33

Essay

At the beginning of 2014, Conway Manufacturing had the following account balances:
Following additional details are provided for the year:
$$\begin{array} { | l | r | } \hline \text { Direct materials placed in production } & \$ 80,000 \\\hline \text { Direct labor incurred } & 190,000 \\\hline \text { Manufacturing overhead incurred } & 300,000 \\\hline \text { Manufacturing overhead allocated to production } & 295,000 \\\hline \text { Cost of jobs completed and transferred } & 500,000 \\\hline \text { Total revenue } & 750,000 \\\hline \text { Cost of goods sold } & 440,000 \\\hline\end{array}$$ The remaining balance of Manufacturing Overhead was cleared to zero. Calculate the ending balances in Work-in-Process Inventory, Finished Goods Inventory, Manufacturing Overhead (unadjusted), and Cost of Goods Sold (after adjustment.)

---

Definitions:

Estuary

A coastal area where freshwater from rivers and streams mixes with saltwater from the ocean.

Brackish Water

Water that has more salinity than freshwater but not as much as seawater, typically resulting from the mixing of seawater with freshwater.

Nutrient Concentration

The amount of a specific nutrient present within a given volume or mass of soil, water, or biological material.

Neritic Province

A marine zone extending from the low tide mark to the edge of the continental shelf, characterized by abundant sunlight and life.