Raw materials inventory, beginning$160Raw materials inventory, ending$280Work in process inventory, beginning$280Work in process inventory, ending$200Finished goods inventory, beginning$480 Finished goods inventory, ending$640Administrative expenses$600Direct labor$800Manufacturing overheads 920Purchases of raw materials$480Sales$3,960Selling expenses$560

Raw materials inventory, beginning$160Raw materials inventory, ending$280Work in process inventory, beginning$280Work in process inventory, ending$200Finished goods inventory, beginning$480 Finished goods inventory, ending$640Administrative expenses$600Direct labor$800Manufacturing overheads 920Purchases of raw materials$480Sales$3,960Selling expenses$560

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 11MC: Beginning inventory and direct material cost added during the month total $55,000. What is the value...

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Similar questions

Beginning inventory and direct material cost added during the month total $55,000. What is the value of the ending work in process inventory if beginning inventory was 2,000 units; 9,000 units were started; and 1,000 units were in ending inventory? $1,000 $5,000 $50,000 $55,000
Costs per equivalent unit Georgia Products Inc. completed and transferred 89,000 particle board units of production from the Pressing Department. There was no beginning inventory in process in the department. The ending in-process inventory was 2,400 units, which were complete as to conversion cost. All materials are added at the beginning of the process. Direct materials cost incurred was 219,360, direct labor cost incurred was 28,100, and factory overhead applied was 12,598. Determine the following for the Pressing Department: A. Total conversion cost B. Conversion cost per equivalent unit C. Direct materials cost per equivalent unit
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Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct-labor costs The ending balance of direct materials inventory is $148,000 84,000 134,000 147,000 290,000 249,000 31,000 67,000 50,000 150 percent
Subject :- Accounting
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