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4. The following information is available for Amir Company. January 1, 2017 Raw materials inventory -0,000 Work in process inventory Finished goods inventory Materials purchased December 31, 2017 R.O. 26,000 2017 R.O. 13,500 30,000 22,200 21,000 R.O.170,000 Direct labor 220,000 Manufacturing overhead 180,000

4. The following information is available for Amir Company. January 1, 2017 Raw materials inventory -0,000 Work in process inventory Finished goods inventory Materials purchased December 31, 2017 R.O. 26,000 2017 R.O. 13,500 30,000 22,200 21,000 R.O.170,000 Direct labor 220,000 Manufacturing overhead 180,000

FINANCIAL ACCOUNTING
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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4. The following information is available for Amir Company. January 1, 2017 Raw materials inventory 30,000 Work in process inventory Finished goods inventory Materials purchased December 31, 2017 R.O. 26,000 2017 R.O. 13,500 30,000 R.O.170,000 22,200 21,000 220,000 Manufacturing overhead Direct labor 180,000 Instructions (a) Compute cost of goods manufactured. (b) Compute cost of goods sold. (c) Prepare the current assets section of the balance sheet.
Transcribed Image Text:4. The following information is available for Amir Company. January 1, 2017 Raw materials inventory 30,000 Work in process inventory Finished goods inventory Materials purchased December 31, 2017 R.O. 26,000 2017 R.O. 13,500 30,000 R.O.170,000 22,200 21,000 220,000 Manufacturing overhead Direct labor 180,000 Instructions (a) Compute cost of goods manufactured. (b) Compute cost of goods sold. (c) Prepare the current assets section of the balance sheet.
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