1. Answer the following questions by analysing the T-accounts given below Materials Inventory Work in Process Inventory Beg. balance $ 20,000 Beg. balance $ 18,000 360,000 Ending balance $ 14,000 230,000 - 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 Manufacturing Overhead Cost of Goods Sold $400,000 $400,000 -? | g) The cost of finished goods manufactured h) The year-end balance in the Work in Process Inventory account i) The cost of goods sold
1. Answer the following questions by analysing the T-accounts given below Materials Inventory Work in Process Inventory Beg. balance $ 20,000 Beg. balance $ 18,000 360,000 Ending balance $ 14,000 230,000 - 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 Manufacturing Overhead Cost of Goods Sold $400,000 $400,000 -? | g) The cost of finished goods manufactured h) The year-end balance in the Work in Process Inventory account i) The cost of goods sold
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Answer the following questions by analysing the T-accounts given below.

Transcribed Image Text:1. Answer the following questions by analysing the T-accounts given below
Materials Inventory
Work in Process Inventory
$ 18,000
360,000
Ending balance $ 14,000
Beg. balance $ 20,000
?
Beg. balance
230,000
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
Manufacturing Overhead
Cost of Goods Sold
$400,000
$400,000
?
g) The cost of finished goods manufactured
h) The year-end balance in the Work in Process Inventory account
i) The cost of goods sold
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