Beginning direct-materials inventory $26,000

Beginning WIP inventory64,000

Beginning finished-goods inventory58,000

Direct materials purchased $148,000

Direct materials requisitioned82,000

Direct-labor cost incurred120,000

Factory overhead incurred146,000

Cost of goods completed (Cost of goods manufactured)292,000

Cost of goods sold (before adjustment for under or over-applied overhead)256,000

Manufacturing overhead application rate (applied as a % of direct labor cost)125%

Required:

Ending inventory of direct material

Answer rating: 100% (QA)

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