how did they calculate the 682,700 on the closing entries for operating expenses

Question

how did they calculate the 682,700 on the closing entries for operating expenses

Problem The Town of Weston has a Water Utility Fund with the following trial balance as of July 1, 2014, the first day of the fiscal year: Debits Credits Cash Customer accounts receivable Allowance for uncollectible accounts Materials and supplies Restricted assets Utility plant in service Accumulated depreciation-utility plant Construction work in progress Accounts payable Accrued expenses payable Revenue bonds payable Net position $ 230,000 300,000 5 20,000 120,000 250,000 7,000,000 2,600,000 100,000 130,000 75,000 3,500.000 1.675,000 58,000,000 Totals During the year ended June 30. 2015, the following transactions and events occurred in the Town of Weston Water Utility Fund

Explanation / Answer

Liability recorded during the year for the cost of sales and service $ 354000

Add: Material and Supplies used in the cost of sales and service $ 267500

Add: Accrued expenses related to the cost of sales and service $ 63000  

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$ 682700

Note: Liabilities recorded during the year taken as whole because it is related to the current year.

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