Chemistry homework help

Chemistry homework help. Accounting Company provided the following account balances for the year ended December 31 (all raw materials are used in production as direct materials):Selling expenses                                                                $215,000Purchases of raw materials                                                $260,000Direct Labor                                                                          ??Administrative expenses                                                     $160,000Manufacturing overhead applied to work in process          $340,000Total actual manufacturing overhead costs                         $350,000Inventory balances at the beginning and end of the year were as follows:                                                                                                Beginning of year     End of YearRaw material                                                                                 $50,000                  $40,000Work in Progress                                                                               ?Finished goods                                                                               $30,000                         ?The total manufacturing costs for the year were $675,000; the cost of good available for sale totaled $720,000; the unadjusted cost of goods sold totaled $665,000; and the net operating income was $35,000. The company’s overapplied or underapplied overhead is closed entirely to cost of goods sold.Required:Prepare schedules of cost of goods sold manufactured and cost of goods sold and an income.(optional Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.)

Chemistry homework help