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Shoe Company makes loafers. During the most recent year, Comfy Foot Shoe Company incurred total...

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Accounting

Shoe Company makes loafers. During the most recent year, Comfy Foot Shoe Company incurred total manufacturing costs of $ 24 comma 200 comma 000. Of this amount, $ 2 comma 200 comma 000 was direct materials used and $ 17 comma 800 comma 000 was direct labor. Beginning balances for the year were Direct Materials, $ 800 comma 000; Work-in-Process Inventory, $ 1 comma 100 comma 000; and Finished Goods Inventory, $ 1 comma 000 comma 000. At the end of the year, balances were Direct Materials, $ 600 comma 000; Work-in-Process Inventory, $ 1 comma 000 comma 000; and Finished Goods Inventory, $ 890 comma 000.
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Part 1
Requirement 1. Analyze the inventory accounts to determine the cost of direct materials purchased during the year.

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