Question 11 - Ch. 07 Homework X *Homework Help - Q&A from Onl x + V X > C A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/questi... > > Ch. 07 Homework Saved Help Save & Exit Submit Check my work 11 A tornado struck the only manufacturing plant of Toledo Farm Implements (TFI) on June 1. All work-in-process inventory was destroyed, but a few records were salvaged from the wreckage and from the company's headquarters. If acceptable documentation is provided, the loss will be covered by insurance. The insurable value of work-in-process inventory consists of direct materials, direct labor, and applied overhead. 2.14 points The following information about the plant appears on the April financial statements at the company's downtown headquarters: eBook Materials inventory, April 30 $ 99,000 Work- in-process inventory, April 30 165, 800 References Finished goods inventory, April 30 65, 000 Cost of goods sold through April 30 699, 200 Accounts payable (materials suppliers ), April 30 42, 700 Manufacturing overhead through April 30 368, 000 Payroll payable, April 30 Withholding and other payroll liabilities, April 30 20, 300 Overhead applied through April 30 358, 000 A count of the inventories on hand May 31 shows the following: Materials inventory $82,000 Work- in-process inventory Finished goods inventory 75,000 The accounts payable clerk tells you that outstanding bills to suppliers totaled $100,600 and that cash payments of $78,500 were made to them during the month. She informs vou that the pavroll costs last month for the manufacturing section included $169.900. of Mc Graw Hill 550F B 10:26 AM Cloudy 3/16/2022 2