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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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Answer the following questions by analysing the T-accounts given below.  

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
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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