During FY 2023, Orbit Manufacturing had total manufacturing costs of $520,000. The cost of goods manufactured (COGM) was $540,000. The ending Work-in-Process Inventory (as of Jan 1, 2024) is $35,000. What was the beginning Work-in-Process Inventory for FY 2023?

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter6: Cost-volume-profit Analysis
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During FY 2023, Orbit Manufacturing had total manufacturing costs of $520,000. The
cost of goods manufactured (COGM) was $540,000. The ending Work-in-Process
Inventory (as of Jan 1, 2024) is $35,000. What was the beginning Work-in-Process
Inventory for FY 2023?
Transcribed Image Text:During FY 2023, Orbit Manufacturing had total manufacturing costs of $520,000. The cost of goods manufactured (COGM) was $540,000. The ending Work-in-Process Inventory (as of Jan 1, 2024) is $35,000. What was the beginning Work-in-Process Inventory for FY 2023?
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