Billy Bob's Manufacturing had the following data for the fiscal year ended December 31. $ 32,400...

 

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Billy Bob's Manufacturing had the following data for the fiscal year ended December 31. $ 32,400 378,000 372,600 Direct Materials Inventory, January 1 Direct materials purchases Direct materials used Fixed factory overhead Total factory overhead Total manufacturing costs 518,400 604,800 1,168,760 Work-in-Process Inventory, January 1 Work-in-Process Inventory, December 31 Finished Goods Inventory, January 1 Goods available for sale Cost of goods sold Required: Calculate the following costs: 1. Direct Materials Inventory on December 31. 2. Direct labor costs for the year. 3. Variable factory overhead costs for the year. 4. Cost of goods manufactured for the year. 5. Finished Goods Inventory on December 31. 45,360 48,600 64,800 1,156,160 1,115,160 Billy Bob's Manufacturing had the following data for the fiscal year ended December 31. $ 32,400 378,000 372,600 Direct Materials Inventory, January 1 Direct materials purchases Direct materials used Fixed factory overhead Total factory overhead Total manufacturing costs 518,400 604,800 1,168,760 Work-in-Process Inventory, January 1 Work-in-Process Inventory, December 31 Finished Goods Inventory, January 1 Goods available for sale Cost of goods sold Required: Calculate the following costs: 1. Direct Materials Inventory on December 31. 2. Direct labor costs for the year. 3. Variable factory overhead costs for the year. 4. Cost of goods manufactured for the year. 5. Finished Goods Inventory on December 31. 45,360 48,600 64,800 1,156,160 1,115,160

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Step 1 Calculate the following costs 1 Direct Materials Inventory on December 31 2 Direct labor cost... View the full answer