Partial operating data for Merton Company are presented below. Management has set the predetermined overhead rate for the current year at 120 percent of direct labor costs.

Using T accounts and the data provided, compute the unknown values. Show all your computations.

Beginning Work in Process Invenry S 89,605 Beginning Finished Goods Invenory 79,764 1 Direct labor costs 2 Cost of Goods Sold Ending Materials Inventory Ending Work in Process Inventory Ending Finished Goods Invemory 67,660