Jigu9 Low Company has the following inventory informationfor June:Direct materialsWork in processFinished goodsJune 1$63,000$44,000$59,000During June, Low Company had the following costs:Direct materials purchasedSales commissions ......June 30$27,000$81,000$36,000...$132,000$ 74,000$282,000$ 56,000$ 21,000$349,000Prime costs ...Advertising ..Depreciation, sales equipmentUnadjusted cost of goods soldCalculate Low Company's conversion costs for June.

The prime cost comprises Direct materials and direct labor cost. The conversion Costs comprise…

Low Company has the following inventory information for June: June 1 $63,000 $44,000 $59,000 During June, Low Company had the following costs: Direct materials purchased Sales commissions Prime costs .. Direct materials Work in process Finished goods ... June 30 $27,000 $81,000 $36,000 ..... Advertising ... Depreciation, sales equipment Unadjusted cost of goods sold Calculate Low Company's conversion costs for June. ..... $132,000 $ 74,000 $282,000 $ 56,000 $ 21,000 $349,000

Low Company has the following inventory information for June: June 1 $63,000 $44,000 $59,000 During June, Low Company had the following costs: Direct materials purchased Sales commissions Prime costs .. Direct materials Work in process Finished goods ... June 30 $27,000 $81,000 $36,000 ..... Advertising ... Depreciation, sales equipment Unadjusted cost of goods sold Calculate Low Company's conversion costs for June. ..... $132,000 $ 74,000 $282,000 $ 56,000 $ 21,000 $349,000

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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ne File Edit View History Bookmarks Profiles Tab Window Help M Inbox (2 x MACC101 x (4726) || X Account x| Account X WiConnec× M Question X Content c ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu%2 Chapter 7 Quiz i 7 7.58 points Ask Mc Graw Hill Saved QS 7-13 (Algo) Indicating journals used for posting LO P1, P2, P3, P4 The following T-accounts show postings of selected transactions. Indicate the journal used in recording each of these postings a through e. Cash Accounts Receivable Inventory Debit (d) 700 Credit (e) Debit 340 (b) 1,700 Credit (d) Debit Credit 700 (a) 1,520 (c) 1,040 Accounts Payable Sales Debit (e) 340 Credit (a) Debit 1,520 Credit (b) Cost of Goods Sold Credit Debit 1,700 (c) 1,040 Transaction a. b. C. d. e. Journal 12.020 ANE 18 tv A
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