The following balances are from the accounts of Todd Machining Company:

Direct materials purchased during the year amount to $598,000, and the cost of goods sold for the year was $2,172,400.

Required
Reconstruct a cost of goods sold statement and fill in the following missing data:
a. Cost of direct materials used during the year.
b. Cost of goods manufactured during the year.
c. Total manufacturing costs incurred during theyear.

Transcribed Image Text:

January 1 (Beginning) December 31 (Ending) Direct materials inventory Work-in-process inventory Finished goods inventory $96,000 116,000 97,600 $118,000 112,000 90,000