Madison Manufacturing has the following data for the current year: • Direct labor = $195,000 • Direct materials used = $165,000 Total manufacturing overhead = $190,000 Beginning work-in-process inventory: $30,000 1. Total manufacturing costs 2. Total cost of work-in-process

Madison Manufacturing has the following data for the current year: • Direct labor = $195,000 • Direct materials used = $165,000 Total manufacturing overhead = $190,000 Beginning work-in-process inventory: $30,000 1. Total manufacturing costs 2. Total cost of work-in-process

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 21E: Ellerson Company provided the following information for the last calendar year: During the year,...

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Question

Please provide the answer to this general accounting question using the right approach.

Madison Manufacturing has the following
data for the current year:
•
Direct labor = $195,000
•
Direct materials used = $165,000
Total manufacturing overhead =
$190,000
Beginning work-in-process inventory:
$30,000
1.
Total manufacturing costs
2. Total cost of work-in-process

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