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The following information was obtained from the records of Appleton Corporation during 2018.
- Manufacturing Overhead was applied at a rate of 100 percent of direct labor dollars.
- Beginning value of inventory follows:
- Beginning Work in Process Inventory, $6,000.
- Beginning Finished Goods Inventory, $19,000.
- During the period, Work in Process Inventory decreased by 20 percent, and Finished Goods Inventory increased by 25 percent.
- Actual manufacturing overhead costs were $92,000.
- Sales were $406,000
- Adjusted Cost of Goods Sold was $316,000.
Required:
Use the preceding information to find the missing values in the following table:
| Item | Amount |
| Direct Materials Used | |
| Direct Labor | |
| Manufacturing Overhead Applied | 87,000 |
| Total Current Manufacturing Costs | |
| Plus: Beginning Work in Process Inventory | 6,000 |
| Less: Ending Work in Process Inventory | |
| Costs of Goods Manufactured | |
| Plus: Beginning Finished Goods Inventory | 19,000 |
| Less: Ending Finished Goods Inventory | |
| Unadjusted Cost of Goods Sold | |
| Overhead Adjustment | |
| Adjusted Costs of Goods Sold | 316,000 |
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