Direct labor cost $ 3,750 Material handling Materials inventory, May 1 Work-in-process inventory, May 1 Finished goods inventory, May 1 Materials inventory, May 31 Work-in-process inventory, May 31 Finished goods inventory, May 31 $10,500 Purchases of raw materials 15,000 3475 Supplies used Factory insurance Commissions paid Factory supervision Advertising 675 12,500 350 6,685 2.500 9.500 2,225 14,250 800 4,250

Direct labor cost $ 3,750 Material handling Materials inventory, May 1 Work-in-process inventory, May 1 Finished goods inventory, May 1 Materials inventory, May 31 Work-in-process inventory, May 31 Finished goods inventory, May 31 $10,500 Purchases of raw materials 15,000 3475 Supplies used Factory insurance Commissions paid Factory supervision Advertising 675 12,500 350 6,685 2.500 9.500 2,225 14,250 800 4,250

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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