Reference no: EM132507662

Purchased $137,200 of materials.

b. Used $94,320 of direct materials in production.

c. Incurred $180,640 of direct labor wages.

d. Incurred $212,320 of factory overhead.

e. Transferred $427,800 of work in process to finished goods.

f. Sold goods for $655,000.

g. Sold goods with a cost of $360,250.

h. Incurred $86,160 of selling expense.

i. Incurred $70,250 of administrative expense.

Question 1: Using the information given, determine the inventory balances at the end of the first month of operations.

Materials:

Work in process:

Finished goods: