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Given below is the manufacturing data for Obama Manufacturing: Inventory Costs Beginning Ending Direct Material Inventory $85,000 $105,000 Work-in-Progress Inventory $175,000 $130,000 Finished Goods Inventory $290,000 $370,000 Additional cost data: Amount Purchased Direct Material $310,000 Cost Type Direct Labor Factory Overhead Net Sales Period Cost What is the net profit? $165,000 $185,000 $950,000 $270,000

Given below is the manufacturing data for Obama Manufacturing: Inventory Costs Beginning Ending Direct Material Inventory $85,000 $105,000 Work-in-Progress Inventory $175,000 $130,000 Finished Goods Inventory $290,000 $370,000 Additional cost data: Amount Purchased Direct Material $310,000 Cost Type Direct Labor Factory Overhead Net Sales Period Cost What is the net profit? $165,000 $185,000 $950,000 $270,000

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter5: Process Costing
Section: Chapter Questions
Problem 12EA: What are the total costs to account for if a companys beginning inventory had $231,432 in materials,...
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What is the net profit?

Given below is the manufacturing data for Obama Manufacturing: Inventory Costs Beginning Ending Direct Material Inventory $85,000 $105,000 Work-in-Progress Inventory $175,000 $130,000 Finished Goods Inventory $290,000 $370,000 Additional cost data: Amount Purchased Direct Material $310,000 Cost Type Direct Labor Factory Overhead Net Sales Period Cost What is the net profit? $165,000 $185,000 $950,000 $270,000
Transcribed Image Text:Given below is the manufacturing data for Obama Manufacturing: Inventory Costs Beginning Ending Direct Material Inventory $85,000 $105,000 Work-in-Progress Inventory $175,000 $130,000 Finished Goods Inventory $290,000 $370,000 Additional cost data: Amount Purchased Direct Material $310,000 Cost Type Direct Labor Factory Overhead Net Sales Period Cost What is the net profit? $165,000 $185,000 $950,000 $270,000
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