Morrow Corporation had only one job in process during May-Job X32Z-and had no finished goods inventory on May 1. Job X32 was started in April and finished during May, Data concerning that job appear below: Beginning balance. Charged to the job during May Direct materials Direct labor Job X32Z $ 12,000 $ 11,500 $3,400 $ 17,300 Manufacturing overhead applied Units completed Units in process at the end of may Units sold during May The company's total manufacturing overhead applied always equals its total actual manufacturing overhead. 170 0 75 Required: 1. What is the cost of goods sold for May? 2. What is the total value of the finished goods inventory at the end of May? 3. What is the total value of the work in process inventory at the end of May?

Morrow Corporation had only one job in process during May-Job X32Z-and had no finished goods inventory on May 1. Job X32 was started in April and finished during May, Data concerning that job appear below: Beginning balance. Charged to the job during May Direct materials Direct labor Job X32Z $ 12,000 $ 11,500 $3,400 $ 17,300 Manufacturing overhead applied Units completed Units in process at the end of may Units sold during May The company's total manufacturing overhead applied always equals its total actual manufacturing overhead. 170 0 75 Required: 1. What is the cost of goods sold for May? 2. What is the total value of the finished goods inventory at the end of May? 3. What is the total value of the work in process inventory at the end of May?

Name: Morrow Corporation had only one job in process during May-Job X32Z—an
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Description: Morrow Corporation had only one job in process during May-Job X32Z—and had no finished goods inventory on May 1. Job X32Zwas started in April and finished during May, Data concerning that job appear below:Beginning balanceCharged to the job during M

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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