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    mikelon19 Posts: 2, Reputation: 1
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    Mar 31, 2013, 12:36 PM
    Direct Labor/Cost of Goods Sold
    Here's what I have:

    Selling Expenses: 215,000
    Purchases of Raw Materials: 260,000
    Direct Labor: ?
    Administrative expenses: 160,000
    Manufacturing overheard applied to work in progress: 340,000
    Total actual manufacturing overhead costs: 350,000
    Total manufacturing costs: 675,000
    Cost of goods available for sale: 720,000
    Unadjusted cost of goods sold: 665,000
    Net operating income: 35,000

    Beginning raw materials: 50,000
    Ending raw materials: 40,000
    Beginning work in process: ?
    Ending work in process: 33,000
    Beginning finished goods: 30,000
    Ending finished goods: ?

    Anyone able to tell me how to calculate the three answers I do not have? Also need to figure out cost of goods sold/manufactured that, but cannot calculate that without these answers.

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