The following T accounts summarize the flow of manufacturing costs during the current year. Through the ledger accounts of Gronback Corporation

The following T accounts summarize the flow of manufacturing costs during the current year. Through the ledger accounts of Gronback Corporation:

Materials Inventory Work in Process Inventory

Beg. Balance $ 16,000 Beg. Balance $21,000

345,000 ? ? ?

Ending balance $13,000 210,000

399,000

ending Balance:$27,000

Direct Labor Finished Goods Inventory

$206,000 $210,000 Big. Balance $106,000

Ending balance $4,000 ? ?

Ending balance $118,000

Manufacturing Over head Cost of Good sold

$399,000 $399,000 ?

Instructions

From the data supplied on the previous page, indicate the following amounts. Some amounts are shown in the T accounts: others require short computations. (Show all computations.)

a. Purchases during the year of direct materials

b. The cost of direct materials used

c. Direct labor payrolls paid during the year

d. Direct labor costs assigned to production

e. The overhead application rate in use during the year, assuming that overhead is applied as a percentage of direct labor costs.

f. Total manufacturing costs charged to the Work in Process Inventory accounts during the year

g. The cost of finished goods manufactured

h. The cost of goods sold

i. The total costs to be classified as inventory in the year-end balance sheet.

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