g) The cost of finished goods manufacturedh) The year-end balance in the Work in Process Inventory accounti) The cost of goods soldj) The total amount of inventory listed in the hear-end balance sheetk) Manufacturing overhead assigned to production 1. Answer the following guestions by analysing the T-accounts given below.Materials InventoryWork in Process InventoryBeg. balance$ 20,000$ 18,000360,000Beg. balance230,000Ending balance $ 14,000400,000Ending balance $ 25,000Finished Goods InventoryDirect Labor$225,000$230,000Beg. balance$ 98,000Ending balance $ 5,000Ending balance $110,000Cost of Goods SoldManufacturing Overhead$400,000$400,000a) Purchases of direct materialb) The cost of direct material usedc) Why does direct labor account has a credit balance of $5000? Explaind) Direct labor costs assigned to productione) The overhead as a percentage of direct laborstsf) Total manufacturing costs charged to the Work in Process Inventory account during the currentyear

Name: g) The cost of finished goods manufacturedh) The year-end balance in
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Description: g) The cost of finished goods manufacturedh) The year-end balance in the Work in Process Inventory accounti) The cost of goods soldj) The total amount of inventory listed in the hear-end balance sheetk) Manufacturing overhead assigned to production

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Business

Accounting

1. Answer the following guestions by analysing the T-accounts given below, Work in Process Inventory Materials Inventory Beg. balance $ 20,000 $ 18,000 360,000 Beg. balance 230,000 Ending balance $ 14,000 400,000 Ending balance $ 25,000 Direct Labor Finished Goods Inventory $225,000 $230,000 Beg. balance $ 98,000 Ending balance $ 5,000 Ending balance $110,000 Cost of Goods Sold Manufacturing Overhead $400,000 $400,000 |I

1. Answer the following guestions by analysing the T-accounts given below, Work in Process Inventory Materials Inventory Beg. balance $ 20,000 $ 18,000 360,000 Beg. balance 230,000 Ending balance $ 14,000 400,000 Ending balance $ 25,000 Direct Labor Finished Goods Inventory $225,000 $230,000 Beg. balance $ 98,000 Ending balance $ 5,000 Ending balance $110,000 Cost of Goods Sold Manufacturing Overhead $400,000 $400,000 |I

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Current Attempt in Progress The following information is available for Marin Company. Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue (a) January 1, 2022 $17,600 eTextbook and Media 11,400 22,700 2022 $126,000 184,800 151,200 764,400 December 31, 2022 $25,200 14,500 17,640 Compute cost of goods manufactured. (Assume that all raw materials used were direct materials.) MARIN COMPANY Cost of Goods Manufactured Schedule QUO Attempte:0 of 3 used Submit Answer
The journal entry to issue $700 of direct materials and $80 of indirect materials to production involves debit(s) to the O A. Manufacturing Overhead account for $780 OB. Work-in - Process Inventory account for $700 and Manufacturing Overhead account for $80 O C. Work-in - Process Inventory account for $780 O D. Work-in - Process Inventory account for $700 and Finished Goods Inventory account for $80
Question 1
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accounts
How to find: * Cost of beginning work in process inventory completed this period. *Cost of units transferred to finished goods during the period. * Cost of ending work in process inventory. * Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent. Work in Process—Assembly Department Bal., 6,000 units, 55% completed 18,540 To Finished Goods, 138,000 units ? Direct materials, 141,000 units @ $2.1 296,100 Direct labor 192,900 Factory overhead 75,000 Bal. ? units, 70% completed ?
Sterling's records show the work in process inventory had a beginning balance of $5,000 and an ending balance of $4,000. How much direct labor was incurred if the records also show: Materials used $1,600 Overhead applied 400 Cost of goods manufactured 7,700 $fill in the blank 1
*need help with C please *
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