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At the end of the year WIP totaled $ 6,000. Calculate the total costs of goods manufactured and transferred to Finished Goods Inventory.

At the end of the year WIP totaled $ 6,000. Calculate the total costs of goods manufactured and transferred to Finished Goods Inventory.

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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QUESTION 2 Frying Dutchman, Inc. had beginning Work-in-Process Inventory (WIP) of $8,000. It incurred the following costs during the year: $ 20,000 Factory production worker wages 20,000 Direct materials Allocated factory rent 80,000 Allocated factory utilities 60,000 Sales commissions 200,000 At the end of the year WIP totaled $ 6,000. Calculate the total costs of goods manufactured and transferred to Finished Goods Inventory.
Transcribed Image Text:QUESTION 2 Frying Dutchman, Inc. had beginning Work-in-Process Inventory (WIP) of $8,000. It incurred the following costs during the year: $ 20,000 Factory production worker wages 20,000 Direct materials Allocated factory rent 80,000 Allocated factory utilities 60,000 Sales commissions 200,000 At the end of the year WIP totaled $ 6,000. Calculate the total costs of goods manufactured and transferred to Finished Goods Inventory.
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