Determine the missing amount for each separate situation involving manufacturing costs. Direct materials used Direct labor used Factory overhead Total manufacturing costs $ (1) 10,000 $ 6,000 7,000 $ (2) 16,000 25,000 52,000 $ (3) 20,000 24,000 74,000

Determine the missing amount for each separate situation involving manufacturing costs. Direct materials used Direct labor used Factory overhead Total manufacturing costs $ (1) 10,000 $ 6,000 7,000 $ (2) 16,000 25,000 52,000 $ (3) 20,000 24,000 74,000

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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Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

100%

Determine the missing amount for each separate situation involving manufacturing costs.
Direct materials used
Direct labor used
Factory overhead
Total manufacturing costs
$
(1)
10,000 $
6,000
7,000
$
(2)
16,000
25,000
52,000 $
(3)
20,000
24,000
74,000

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