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Direct Materials Inventroy Beginning Inventroy $864,000 + Purchases $476,000 = Direct Materials available for Use - Ending Inventory = Direct...

Power Switch Inc, had a flood distroy it's accounting records and inventroy,
Numbers Given:
1st quarter materials purchased: $476,000,
direct labor: $505,000, Manfacturing overhead:$245,000
Total Maufacturing costs to account for: $1,425,000,
Cost of goods available for sale: $1,340,000
Sales for the period: $1.7 million, gross profit of 30%,
Direct matrials: $113,000
Work In Process $229,000
Finished Goods:$154,000
A) Determine ending inventories of Direct Materials, Work In Process, and Finished Good
B) Draft an insurance claim letter for the controller,seeking reimbursment for the damage to invemtory. PowerSwitch's insurance represenative is Gayr Ogleby, at Industrial Co., 1122 Main St, Hartford, Ct 06268
Policy # 3454340-23
Powerswitch address: 5 Research Triangle Way, Raliegh, NC, 27698

PS. I have attached my excel spread sheet. I tried to d othe problem myself but have been stuck on some of the numbers and have no idea how to do the letter.

Direct Materials Inventroy Work in Process Inventory Finished Goods Inventory Beginning Inventroy $864,000 Beginning Inventory $562,000 Beginning Inventory + Purchases $476,000 + Direct Materials Used $113,000 + Cost of Goods manufactured + Direct labor $505,000 = Cost of goods available for sale $1,340,000 = Direct Materials available for Use $1,340,000 + Manufacturing Overhead $245,000 - Ending Inventory $1,056,000 - Ending Inventory $1,227,000 Total manufacturing Costs Incurred $863,000 = Cost of goods sold $1,190,000 = Direct Materials Used $113,000 = Total Manufacuturing Costs to account for $1,425,000 - Ending Inventory = Cost of goods Manufactured Beginning Work in Process Inventory $562,000 Add: Direct Materials Used Beginnings Materials Inventory $864,000 Purchase of Direct Material $476,000 1.7 Million in sales Available For use $1,340,000 Ending Materials Inventory - -$1,227,000 Sales - Gross Profit Direct Materials Used $113,000 Direct Labor $505,000 Manufacturing Overhead $245,000 Total Manufacturing Costs incurred $863,000 total manufacturing Costs to account for $1,425,000 Less: Ending Work in Process Invenory - Costs fo Goods Manufactured 1,700,000 * .3 = 510,000 1,700,000-510,000 = 1,190,000
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