At May 31, 2022, the accounts of Blossom Company show the following. 1. 2 3. 4. May 1 inventories-finished goods $12,830, work in process $14.950, and raw materials $8,320. May 31 inventories-finished goods $9,690, work in process $16,240, and raw materials $7.220. Debit postings to work in process were direct materials $63,670, direct labor $51,000, and manufacturing overhead applied $40.800. (Assume that overhead applied was equal to overhead incurred.) Sales revenue totaled $219,300.

At May 31, 2022, the accounts of Blossom Company show the following. 1. 2 3. 4. May 1 inventories-finished goods $12,830, work in process $14.950, and raw materials $8,320. May 31 inventories-finished goods $9,690, work in process $16,240, and raw materials $7.220. Debit postings to work in process were direct materials $63,670, direct labor $51,000, and manufacturing overhead applied $40.800. (Assume that overhead applied was equal to overhead incurred.) Sales revenue totaled $219,300.

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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