Top answer: Beginning balance, Raw materials inventory $187, 500 Beginning…

  

Beginning balance, Raw materials inventory $187, 500 Beginning… Beginning balance, Raw materials inventory $187, 500Beginning balance, work in process inventory 300, 000Beginning balance, finished goods inventory 106, 000Purchases of raw materials 337, 500Factory electricity 63, 500Direct labour payroll 200, 00Depreciation on factory equipment 218, 750Insurance on factory equipment 50, 000Indirect materials used in production 43, 750Total raw materials used in production 406, 250Indirect labour payroll 150, 000Cost of goods manufactured 1250, 000Cost of goods sold 1312, 500 Accounting Business Cost Accounting