I have searched my textbook and I can't seem to find how I can figure out the Work in Process Beginning of Year. I know that Work in Process Beginning - Work in Process End = Cost of Goods Manufactured but I do not have that number either from what I can tell. I have completed the whole schedule of cost of goods manufactured except for the total cost of goods manufactured and the work in process beginning of year.

Valenko Company provided the following account balances for the year ended December 31 (all raw materials are used in production as direct materials):

Selling expenses	$	217,000
Purchases of raw materials	$	263,000
Direct labor		?
Administrative expenses	$	156,000
Manufacturing overhead applied to work in process	$	335,000
Total actual manufacturing overhead costs	$	353,000

Inventory balances at the beginning and end of the year were as follows:

	Beginning of Year			End of Year
Raw materials	$	56,000		$	34,000
Work in process		?		$	25,000
Finished goods	$	30,000			?

The total manufacturing costs for the year were $670,000; the cost of goods available for sale totaled $725,000; the unadjusted cost of goods sold totaled $669,000; and the net operating income was $36,000. The company’s overapplied or underapplied overhead is closed entirely to cost of goods sold.

Prepare a schedule of cost of goods manufactured.

VALERICO COMPANY
STATEMENT OF COST OF GOODS MANUFACTURED
Materials Consumed				WORKINGS
Inventory - beginning			56000
Purchases			263000
Inventory ending			-34000
Rawmaterials consumed			285000
Direct labor			50000	balancing figure 670000-285000-335000
Applied overheads			335000
Total manufacturing costs			670000
WIP beginning			45000	690000+25000-670000
WIP ending			-25000
Cost of goods manufactured			690000	725000-30000
Finished goods beginning			30000
Cost of goods available for sale			725000
Finished goods ending			-56000	725000-669000
Cost of goods sold - unadjusted			669000
Under applied overheads			18000

TOTAL COST OF GOODS SOLD 687000