99 bb Raw Materials Inventory 50,000 Accounts Payable Wages Payable bb Work-in-Process Inv. 90,000 Manufact. Overhead Finished Goods Inv. 1 Bought raw materials on account, 30,000. 2. Used direct materials in production, 29,000. 3. Incurred direct labor costs, 27,000, on account 4. Used indirect materials in production, 5,000 5. Incurred indirect labor costs, 8,000, on account bb Indirect Mat. Inventory 20,000 Cost of Goods Sold 6. Incurred manufacturing overhead costs: utilities 3,000; rent 32,000, supplies, 7,000, insurance 14,000, on account 7. Applied manufacturing overhead to production, 68,000. 8. Completed production of certain jobs, 150,000. 9. Sold finished goods, 30,000. 10. Over(under) applied overhead is closed to Cost of Goods Sold. Cost of Goods Manufacturing Schedule- Direct Materials Beg. Raw Mat. Inv. Add: Raw Mat. Purch. Total Raw Materials Less: Ending Inventory Raw Materials Used Direct Labor Manufacturing Overhead Indirect Labor Utilities Rent Supplies Indirect Materials Insurance Total Manf. Overhead Over(Under) Appl. Over. Applied Manuf. Overhead Total Manufacturing Costs Add: Beg. Work-in-Process Inv. Less: End. Work-in Process Inv. Cost of Goods Manufacturing