January 1, 2020 December 31, 2020 Direct materials $40,000 $60,000 Work in process 80,000 50,000 Finished goods 56,000 70,000 Additional information for 2020: Direct materials $200,000 Direct manufacturing labour payroll Direct manufacturing labour rate per hour 160,000 10 Factory overhead rate per direct manufacturing labour hour 8.

January 1, 2020 December 31, 2020 Direct materials $40,000 $60,000 Work in process 80,000 50,000 Finished goods 56,000 70,000 Additional information for 2020: Direct materials $200,000 Direct manufacturing labour payroll Direct manufacturing labour rate per hour 160,000 10 Factory overhead rate per direct manufacturing labour hour 8.

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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