a. Mosley, Inc. Schedule of Raw Materials Placed in Production Year Ended December 31 Raw materials...

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a. Mosley, Inc. Schedule of Raw Materials Placed in Production Year Ended December 31 Raw materials inventory, beginning balance Add current period raw materials purchases Raw materials available for production Less raw materials inventory, ending balance Raw materials placed in production Less indirect materials included in manufacturing overhead Direct materials placed in production b. C. d. $ 45,000 Correct Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect Mosley, Inc. Schedule of Cost of Goods Manufactured Year Ended December 31 WIP inventory, beginning balance $ 2,475,000 Correct Add current period manufacturing costs: Direct materials Direct labor Manufacturing overhead applied Total current period manufacturing costs Total cost of work in process Less WIP inventory, ending balance Cost of goods manufactured Mosley, Inc. Schedule of Cost of Goods Sold Year Ended December 31 Finished goods inventory, beginning balance Add cost of goods manufactured Cost of goods available for sale Less finished goods inventory, ending balance Cost of goods sold Mosley, Inc. Income Statement Year Ended December 31 Sales Cost of goods sold Gross profit Less operating (nonmanufacturing) expenses: Selling General and administrative Operating profit Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect $5,422,500 Correct Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect a. Mosley, Inc. Schedule of Raw Materials Placed in Production Year Ended December 31 Raw materials inventory, beginning balance Add current period raw materials purchases Raw materials available for production Less raw materials inventory, ending balance Raw materials placed in production Less indirect materials included in manufacturing overhead Direct materials placed in production b. C. d. $ 45,000 Correct Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect Mosley, Inc. Schedule of Cost of Goods Manufactured Year Ended December 31 WIP inventory, beginning balance $ 2,475,000 Correct Add current period manufacturing costs: Direct materials Direct labor Manufacturing overhead applied Total current period manufacturing costs Total cost of work in process Less WIP inventory, ending balance Cost of goods manufactured Mosley, Inc. Schedule of Cost of Goods Sold Year Ended December 31 Finished goods inventory, beginning balance Add cost of goods manufactured Cost of goods available for sale Less finished goods inventory, ending balance Cost of goods sold Mosley, Inc. Income Statement Year Ended December 31 Sales Cost of goods sold Gross profit Less operating (nonmanufacturing) expenses: Selling General and administrative Operating profit Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect $5,422,500 Correct Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect