The following balances are from the accounts of Secol Machining Company:

Direct materials purchased during the year amount to $299,000, and the cost of goods sold for the year was $1,086,200.

Required
Reconstruct a cost of goods sold statement and fill in the following missing data:
a. Cost of direct materials used during the year.
b. Cost of goods manufactured during the year.
c. Total manufacturing costs incurred during theyear.

Transcribed Image Text:

January 1 (Beginning) Dcember 31 (Ending) Direct materials inventory. Work-in-process inventory Finished goods inventory $48,000 58,000 43,800 $59,000 56,000 45,000