Im not really sure how to calculate the unknown values. I think somehow you use the Cost of Goods Manufactured schedule among other things but I cant figure out how to. Here is the information given:
October 31, 2008
Supplies (direct and indirect) = $79,250
Work in Process Inventory = 58,875
Finished goods Inventory = 60,000
Cost of Goods sold = 576,000
Accounts Payable (materials purchased only) = 17,960
Manufacturing Overhead incurred = 129,500
Manufacturing Overhead applied = 128,700
November 30, 2008
Supplies (direct and indirect) = $73,250
Work in Process Inventory = ???
Finished goods Inventory = 63,000
Cost of Goods sold = 656,000
Accounts Payable (materials purchased only) = 53,540
Manufacturing Overhead incurred = 163,300
Manufacturing Overhead applied = ???
Other Information for November 2008:
Cash payments to suppliers = $60,000
Payroll (including 15,375 indirect) = 83,500
Indirect Materials used = 5,848
Overapplied Overhead (Novemeber only) = 2,750
Instructions: Calculate the normal cost of the work in process inventory which was lost during the fire.
The textbook also says that Direct Materials used = $95,732 and Manufacturing overhead applied = $36,550. Im not sure where those numbers come from or how to get them. Any help on this would be great. Thanks