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Constanza Company has the following balances as of the year ended December 31, 2019: Direct Materials Inventory $30,000 Dr. WIP Inventory 69,000 Dr. Finished Goods Inventory 99,000 Dr. Underapplied Factory Department Overhead 8,000 Dr. Cost of Goods Sold 149,000 Dr. Additional information is as follows: Cost of direct materials purchased during 2019 $82,000 Cost of direct materials requisitioned in 2019 74,000 Cost of goods completed during 2019 204,000 Factory overhead applied (120% of direct labor) 96,000 Compute beginning WIP inventory.

Constanza Company has the following balances as of the year ended December 31, 2019: Direct Materials Inventory $30,000 Dr. WIP Inventory 69,000 Dr. Finished Goods Inventory 99,000 Dr. Underapplied Factory Department Overhead 8,000 Dr. Cost of Goods Sold 149,000 Dr. Additional information is as follows: Cost of direct materials purchased during 2019 $82,000 Cost of direct materials requisitioned in 2019 74,000 Cost of goods completed during 2019 204,000 Factory overhead applied (120% of direct labor) 96,000 Compute beginning WIP 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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Constanza Company has the following balances as of the year ended December 31, 2019: Direct Materials Inventory $30,000 Dr. WIP Inventory 69,000 Dr. Finished Goods Inventory 99,000 Dr. Underapplied Factory Department Overhead 8,000 Dr. Cost of Goods Sold 149,000 Dr. Additional information is as follows: Cost of direct materials purchased during 2019 $82,000 Cost of direct materials requisitioned in 2019 74,000 Cost of goods completed during 2019 204,000 Factory overhead applied (120% of direct labor) 96,000 Compute beginning WIP inventory.
Transcribed Image Text:Constanza Company has the following balances as of the year ended December 31, 2019: Direct Materials Inventory $30,000 Dr. WIP Inventory 69,000 Dr. Finished Goods Inventory 99,000 Dr. Underapplied Factory Department Overhead 8,000 Dr. Cost of Goods Sold 149,000 Dr. Additional information is as follows: Cost of direct materials purchased during 2019 $82,000 Cost of direct materials requisitioned in 2019 74,000 Cost of goods completed during 2019 204,000 Factory overhead applied (120% of direct labor) 96,000 Compute beginning WIP inventory.
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