Question - Consy Company has the following balances as of the year ended December 31, 2014:

Direct Materials Inventory $30,000 Dr.

WIP Inventory 69,000 Dr.

Finished Goods Inventory 99,000 Dr.

Underapplied Factory Department Overhead 8,000 Dr.

Cost of Goods Sold 149,000 Dr.

Additional information is as follows:

Cost of direct materials purchased during 2014 $82,000

Cost of direct materials requisitioned in 2014 74,000

Cost of goods completed during 2014 204,000

Factory overhead applied (120% of direct labor) 96,000

Required:

a. Compute beginning direct materials inventory.

b. Compute beginning WIP inventory.

c. Compute beginning finished goods inventory.

d. Compute actual factory overhead incurred.