Direct Materials Used, Cost of Goods ManufacturedIn September, Lauren Ashley Company purchased materials costing $210,000 and incurred direct labor cost of $140,000. Overhead totaled $320,000 for the month. Information oninventories was as follows:MaterialsWork in processFinished goodsRequired:XSeptember 1 September 30X$130,0001. What was the cost of direct materials used in September ?$70,000$75,000X$140,000$70,000$70,0002. What was the total manufacturing cost in September ?3. What was the cost of goods manufactured for September?

Cost of goods manufactured :— It is the total cost of completed finished goods transferred from work…

Direct Materials Used, Cost of Goods Manufactured In September, Lauren Ashley Company purchased materials costing $210,000 and incurred direct labor cost of $140,000. Overhead totaled $320,000 for the month. Information on inventories was as follows: Materials. X September 1 September 30 Work in process Finished goods Required: 1. What was the cost of direct materials used in September? x $130,000 $70,000 $75,000 $140,000 $70,000 $70,000 2. What was the total manufacturing cost in September? X 3. What was the cost of goods manufactured for September?

Direct Materials Used, Cost of Goods Manufactured In September, Lauren Ashley Company purchased materials costing $210,000 and incurred direct labor cost of $140,000. Overhead totaled $320,000 for the month. Information on inventories was as follows: Materials. X September 1 September 30 Work in process Finished goods Required: 1. What was the cost of direct materials used in September? x $130,000 $70,000 $75,000 $140,000 $70,000 $70,000 2. What was the total manufacturing cost in September? X 3. What was the cost of goods manufactured for September?

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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