Use the Information Below to Calculate the Missing Amounts (Shown

question 63

Essay

Use the information below to calculate the missing amounts (shown by letters)in the Schedule of Raw Materials Placed in Production and the Schedule of Cost of Goods Manufactured.
$\begin{array}{c} \text { Cycle Manufacturing Company}\\ \text { Schedule of Raw Materials Placed in Production }\\ \text { Month Ended January 31}\\\begin{array}{ll} \text { Raw Materials Inventory, beginning balance } & \text { A } \\ \text { Current period raw materials purchases } & 20,000 \\ \text { Raw materials available for production } & \overline{\$ 60,000} \\ \text { Raw Materials Inventory, ending balance } & \text { B } \\ \text { Raw materials placed in production } & \overline{\$ 50,000} \\ \text { Indirect materials included in manufacturing overhead } & 4,000 \\\text { Direct materials placed in production } &\$C \\\end{array}\end{array}$
$\begin{array}{c} \text { Cycle Manufacturing Company}\\ \text { Schedule of Cost of Goods Manufactured }\\ \text { Month Ended January 31}\\\begin{array}{llr} \text { WIP Inventory, beginning balance} &&\$90,000\\ \text { Current period manufacturing costs: } &\\ \text { Direct materials } & \text { }D \\ \text {Direct labor } & \text { E} \\ \text { Manufacturing overhead} &64,000\\ \text { Total current period manufacturing costs } &326,000\\ \text {Total cost of work in process } & \text { \$ F } \\ \text { WIP Inventory, ending balance } &78,000\\ \text {Cost of Goods Manufactured } &\$ G\\\end{array}\end{array}$

---

Definitions:

Modern Birds

Avian species existing today, characterized by features like feathers, beaks without teeth, and lightweight skeletons.

Phylogeny

The branch of biology that deals with the evolutionary development and diversification of a species or group of organisms.

Derived Homologies

Features shared by descendants of a common ancestor that have undergone evolution to serve new functions.

Synapomorphies

Shared derived characteristics or traits that are used to establish evolutionary relationships among species or groups.