Question:63 Given below is the manufacturing data: Direct material inventory Beginning Ending $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: Direct material inventory Beginning Ending $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

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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