Question: Work-in-process inventory, January 1, 2011 $ 51,000 Work-in-process inventory, December 31, 2011 $ 56,500 Conversion costs during the year $ 423,000 1. If direct materials

Work-in-process inventory, January 1, 2011 $ 51,000
Work-in-process inventory, December 31, 2011 $ 56,500
Conversion costs during the year $ 423,000

1. If direct materials used during the year were $143,000, what was cost of goods manufactured?

2. If the cost of goods manufactured for the year was $575,000, what was the amount of direct materials used during the year?

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