Leonne Co. provided the following information for the year ended December 31, 20Y1 Costs Amount Work-in-process inventory - beginning balance $530,000 Work-in-process inventory - ending balance $550,000 Finished goods inventory - beginning balance $160,000 Finished goods inventory - ending balance $140,000 Direct material placed in production $90,000 Selling expenses $85,000 General and administrative expenses $245,000 Direct labor used in production $150,000 Manufacturing overhead $520,000 Costs of goods manufactured for the year ended December 31, 20Y1 is: $ Costs of goods sold for the year ended December 31, 20Y1 is: $ Instruction: Do not use "$" in your answer. Use thousand separator. E.g., 1,500,000
Leonne Co. provided the following information for the year ended December 31, 20Y1 Costs Amount Work-in-process inventory - beginning balance $530,000 Work-in-process inventory - ending balance $550,000 Finished goods inventory - beginning balance $160,000 Finished goods inventory - ending balance $140,000 Direct material placed in production $90,000 Selling expenses $85,000 General and administrative expenses $245,000 Direct labor used in production $150,000 Manufacturing overhead $520,000 Costs of goods manufactured for the year ended December 31, 20Y1 is: $ Costs of goods sold for the year ended December 31, 20Y1 is: $ Instruction: Do not use "$" in your answer. Use thousand separator. E.g., 1,500,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Leonne Co. provided the following information for the year ended December 31, 20Y1
| Costs | Amount |
|---|---|
| Work-in-process inventory - beginning balance | $530,000 |
| Work-in-process inventory - ending balance | $550,000 |
| Finished goods inventory - beginning balance | $160,000 |
| Finished goods inventory - ending balance | $140,000 |
| Direct material placed in production | $90,000 |
| Selling expenses | $85,000 |
| General and administrative expenses | $245,000 |
| Direct labor used in production | $150,000 |
| Manufacturing |
$520,000 |
Costs of goods manufactured for the year ended December 31, 20Y1 is: $
Costs of goods sold for the year ended December 31, 20Y1 is: $
Instruction: Do not use "$" in your answer. Use thousand separator. E.g., 1,500,000
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