The Following Information Is from Marchant Manufacturing Co Required:
(A

Essay

The following information is from Marchant Manufacturing Co.for September:
$\begin{array}{|l|r|}\hline \text { Direct materials used in production } & \$ 95,000 \\\hline \text { Direct labour } & \$ 67,000 \\\hline \text { Total manufacturing cost } & \$ 234,000 \\\hline \text { Raw materials inventory, Sept. 1 } & \$ 24,000 \\\hline \text { Work-in-process inventory, Sept. 1 } & \$ 6,000 \\\hline \text { Finished goods inventory, Sept. 1 } & \$ 101,000 \\\hline \text { Purchases of raw materials } & \$ 102,000 \\\hline \text { Cost of goods manufactured } & \$ 233,000 \\\hline \text { Administrative expense } & \$ 41,000 \\\hline \text { Selling expense } & \$ 56,000 \\\hline \text { Sales } & \$ 344,000 \\\hline \text { Gross margin } & \$ 127,000 \\\hline \text { Net income } & \$ 30,000 \\\hline\end{array}$
Required:
(a.)Compute the cost of goods sold.
(b.)Compute the balance in finished goods inventory at September 30.
(c.)Compute the balance in work-in-process inventory at September 30.
(d.)Compute the balance in raw materials inventory at September 30.
(e.)Compute the total manufacturing overhead.
(Hint: The easiest method of solving this problem is to sketch out the income statement and the schedule of cost of goods manufactured,enter the given amounts,and then enter the unknowns as plug figures.)