T Account Analysis with Unknowns

Partial operating data for Brent Cross Company follow. Management has set the predetermined overhead rate for the current year at 90 percent of direct labor costs.

Using T accounts below and the data provided, compute the unknown values.

Account/Transaction	December
Beginning Materials Inventory	$142,000
Beginning Work in Process Inventory	66,000
Beginning Finished Goods Inventory	129,000
Direct materials used	256,000
Direct materials purchased	a.
Direct labor costs	390,000
Overhead applied	b.
Cost of units completed	c.
Cost of Goods Sold	953,400
Ending Materials Inventory	50,000
Ending Work in Process Inventory	138,600
Ending Finished Goods Inventory	d.

Materials Inventory
Beg. Bal.		Used
a. Purchases
End. Bal.

Work in Process Inventory
Beg. Bal.		c. Completed During Period
Direct Materials
Direct Labor
b. Overhead Applied
End. Bal.

Finished Goods Inventory
Beg. Bal.		Cost of Goods Sold
c. Completed During Period
d. End. Bal.