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If FG Inventory had no ending balance but Cost of Goods Sold was $681,000, what was the beginning bala year?

If FG Inventory had no ending balance but Cost of Goods Sold was $681,000, what was the beginning bala year?

FINANCIAL ACCOUNTING
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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am. 105.

(c) Your answer is correct. What was the ending balance in WIP Inventory last year? Ending balance in WIP Inventory (d) eTextbook and Media Beginning balance in FG Inventory $ eTextbook and Media $ If FG Inventory had no ending balance but Cost of Goods Sold was $681,000, what was the beginning balance in FG Inventory last year? eTextbook Save for Later 14000 Attempts: 1 of 3 used Assistance Used Attempts: 0 of 3 used Submit Answer
Transcribed Image Text:(c) Your answer is correct. What was the ending balance in WIP Inventory last year? Ending balance in WIP Inventory (d) eTextbook and Media Beginning balance in FG Inventory $ eTextbook and Media $ If FG Inventory had no ending balance but Cost of Goods Sold was $681,000, what was the beginning balance in FG Inventory last year? eTextbook Save for Later 14000 Attempts: 1 of 3 used Assistance Used Attempts: 0 of 3 used Submit Answer
Current Attempt in Progress Michael is evaluating some of last year's manufacturing costs for his business, Work It Out, which creates custom-fit exercise equipment for high-end clients. He is trying to strengthen his own analytical skills by looking at some of the total cost amounts and working backward to make sure he can find the detailed amounts that comprised these totals. Last year's manufacturing costs are as follows. Total manufacturing costs Total applied MOH (based on an MOH rate of $1.80/DL dollar) Total cost of goods completed Beginning balance in WIP Inventory (a) Your answer is correct. How much direct labor cost was incurred last year? (b) Direct labor cost eTextbook and Media Your answer is correct. 152200 What was the cost of direct materials used? Cost of direct materials used $ 161840 $588,000 273,960 634,000 60,000 Attempts: 1 of 3 used
Transcribed Image Text:Current Attempt in Progress Michael is evaluating some of last year's manufacturing costs for his business, Work It Out, which creates custom-fit exercise equipment for high-end clients. He is trying to strengthen his own analytical skills by looking at some of the total cost amounts and working backward to make sure he can find the detailed amounts that comprised these totals. Last year's manufacturing costs are as follows. Total manufacturing costs Total applied MOH (based on an MOH rate of $1.80/DL dollar) Total cost of goods completed Beginning balance in WIP Inventory (a) Your answer is correct. How much direct labor cost was incurred last year? (b) Direct labor cost eTextbook and Media Your answer is correct. 152200 What was the cost of direct materials used? Cost of direct materials used $ 161840 $588,000 273,960 634,000 60,000 Attempts: 1 of 3 used
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