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w Exam#1-Problem Sets (1) Q Search in Document Home Insert Design Layout References Mailings Review View Calibri (Body) * 14 . A- A- Aat A AaBbCcDdEe AaBbCcDdEe AaBbCcDc AaBbCcDdEE AaBb( AaBbCcDdEe AaBbCcDdEe AaBbCcDdEe Paste BI UT abe X2 X ALA = = = = . Normal No Spacing Heading 1 Heading 2 Title Subtitle Subtle Emph Emphasis Pane Problem Set#1 (36 points): Name: The following T accounts summarize the flow of manufacturing costs during the current year through the ledger accounts of Morisoli Manufacturing Company. Materials Inventory Work In Process Inventory Beg. Balance $43,000 Beg. Balance $22,000 390,000 End Balance $39,000 210,000 $889,000 End Balance $31,000 Direct Labor Finished Goods Inventory $203,500 $210,000 Beg. Balance $95,000 End Balance $6,500 889,000 End Balance $120,000 Direct Materials Costs of Goods Sold $294,000 | Using the T accounts, determine the following amounts. Some amounts already appear in the T accounts; others equire short computations. 1) Purchases of direct materials. 2) Direct materials used during the year. 3) Direct labor costs assigned to production. 4) The year-end liability to direct workers for wages payable. The overhead costs assigned to production during the year. Total manufacturing costs charged to production during the year. 7) The cost of finished goods manufactured. 8) The cost of goods sold. 9) The total costs classified as inventory in the year-end balance sheet. Use the remaining room on this page and the next page to list your answers and for calculations. Page 1 of 3 366 Words English (US E + 108%