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Question:63 Given below is the manufacturing data: Beginning Ending Direct material inventory $90,000 $110,000 Work-in progress inventory $180,000 $120,000 Finished goods inventory $300,000 $400,000 Purchased direct material $300,000 Direct labor $170,000 Factory overhead $190,000 Net sales $1,000,000 Period cost $280,000 What is the net profit? A. 120,000 B. 180,000

Question:63 Given below is the manufacturing data: Beginning Ending Direct material inventory $90,000 $110,000 Work-in progress inventory $180,000 $120,000 Finished goods inventory $300,000 $400,000 Purchased direct material $300,000 Direct labor $170,000 Factory overhead $190,000 Net sales $1,000,000 Period cost $280,000 What is the net profit? A. 120,000 B. 180,000

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter5: Process Costing
Section: Chapter Questions
Problem 10MC: Direct material costs $3 per unit, direct labor costs $5 per unit, and overhead is applied at the...
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What is the net profit?

Question:63 Given below is the manufacturing data: Beginning Ending Direct material inventory $90,000 $110,000 Work-in progress inventory $180,000 $120,000 Finished goods inventory $300,000 $400,000 Purchased direct material $300,000 Direct labor $170,000 Factory overhead $190,000 Net sales $1,000,000 Period cost $280,000 What is the net profit? A. 120,000 B. 180,000
Transcribed Image Text:Question:63 Given below is the manufacturing data: Beginning Ending Direct material inventory $90,000 $110,000 Work-in progress inventory $180,000 $120,000 Finished goods inventory $300,000 $400,000 Purchased direct material $300,000 Direct labor $170,000 Factory overhead $190,000 Net sales $1,000,000 Period cost $280,000 What is the net profit? A. 120,000 B. 180,000
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