At May 31, 2022, the accounts of Carla Vista Company show the following. 1. May 1 inventories-finished goods $12,080, work in process $14,080, and raw materials $7,840. May 31 inventories-finished goods $9,120, work in process $15,280, and raw materials $6,800. Debit postings to work in process were direct materials $59,920, direct labor $48,000, and manufacturing overhead applied $38,400. (Assume that overhead applied was equal to overhead incurred.) Sales revenue totaled $206,400. 2. 3. 4.

At May 31, 2022, the accounts of Carla Vista Company show the following. 1. May 1 inventories-finished goods $12,080, work in process $14,080, and raw materials $7,840. May 31 inventories-finished goods $9,120, work in process $15,280, and raw materials $6,800. Debit postings to work in process were direct materials $59,920, direct labor $48,000, and manufacturing overhead applied $38,400. (Assume that overhead applied was equal to overhead incurred.) Sales revenue totaled $206,400. 2. 3. 4.

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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