Business, 19.04.2021 16:10 lindamillscotton90

The following information was obtained from the records of Appleton Corporation during 2018. Manufacturing Overhead was applied at a rate of 100 percent of direct labor dollars.
Beginning value of inventory follows:

Beginning Work in Process Inventory, $9,000.
Beginning Finished Goods Inventory, $12,000.

During the period, Work in Process Inventory decreased by 20 percent, and Finished Goods Inventory increased by 25 percent.
Actual manufacturing overhead costs were $88,000.
Sales were $418,000
Adjusted Cost of Goods Sold was $302,000.

Required:
Use the preceding information to find the missing values in the following table:

Item Amount
Direct Materials Used
Direct labor
Manufacturing Overhead Applied 85,000
Total Current Manufactoring Costs
Plus: Begining work in process inventory 9,000
Less: Ending Work in process inventory
Cost of goods manufactured
Plus: Beginning finished goos inventory 12,000
Less: Ending Finished goods inventory
Unadjusted cost of goods sold
Overhead Adjustment
Adjusted Cost of Goods Sold $319,000

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The following information was obtained from the records of Appleton Corporation during 2018. Manufa...