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Purple Bear,Inc Using the Above Cost Information, Prepare a Cost of Goods

Question 137

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Purple Bear,Inc.produces boat motors.Janice Smyth,the company's controller has provided you with the following information.
 Beginning balance, Direct Materials Inventory $78,000 Ending balance, Direct Materials Inventory 72,000 Beginning balance, Work in Process Inventory 125,000 Ending balance, Work in Process Inventory 128,000 Direct Labor 760,000 Manufacturing Overhead 350,000 Direct materials purchased 850,000\begin{array}{lr}\text { Beginning balance, Direct Materials Inventory } & \$ 78,000 \\\text { Ending balance, Direct Materials Inventory } & 72,000 \\\text { Beginning balance, Work in Process Inventory } & 125,000 \\\text { Ending balance, Work in Process Inventory } & 128,000 \\\text { Direct Labor } & 760,000 \\\text { Manufacturing Overhead } & 350,000 \\\text { Direct materials purchased } & 850,000\end{array} Using the above cost information, prepare a cost of goods manufactured schedule.

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