SAP Company manufactures boats. During October, 2020, the company purchased 200 motors at a cost of P300 each. Tarkus transferred 140 motors from the warehouse to production during the month which were installed in boats manufactured during the same period. Of the boats put into production during October, 2020, 90% were completed and transferred to the company's storage lot. By October 31, a total of 100 boats completed during the month were sold. InstructionsDetermine the cost of motors that would appear in each of the following accounts at October 31, 2020: Raw materials inventoryWork in process inventoryFinished goods inventoryCost of goods sold SAP Company manufactures boats. DuringOctober, 2020, the company purchased 200motors at a cost of P300 each. Tarkus transferred140 motors from the warehouse to productionduring the month which were installed in boatsmanufactured during the same period.Of the boats put into production during October,2020, 90% were completed and transferred tothe company's storage lot. By October 31, a totalof 100 boats completed during the month weresold.InstructionsDetermine the cost of motors that would appearin each of the following accounts at October 31,2020:Raw materials inventoryWork in process inventoryFinished goods inventoryCost of goods sold

Ending Raw Material Inventory :— It is the cost of unused raw materials inventory at the end of the…

Answered: SAP Company manufactures boats. During…

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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SAP Company manufactures boats. During October, 2020, the company purchased 200 motors at a cost of P300 each. Tarkus transferred 140 motors from the warehouse to production during the month which were installed in boats manufactured during the same period.

Of the boats put into production during October, 2020, 90% were completed and transferred to the company's storage lot. By October 31, a total of 100 boats completed during the month were sold.

Instructions

Determine the cost of motors that would appear in each of the following accounts at October 31, 2020:

Raw materials inventory

Work in process inventory

Finished goods inventory

Cost of goods sold

SAP Company manufactures boats. During
October, 2020, the company purchased 200
motors at a cost of P300 each. Tarkus transferred
140 motors from the warehouse to production
during the month which were installed in boats
manufactured during the same period.
Of the boats put into production during October,
2020, 90% were completed and transferred to
the company's storage lot. By October 31, a total
of 100 boats completed during the month were
sold.
Instructions
Determine the cost of motors that would appear
in each of the following accounts at October 31,
2020:
Raw materials inventory
Work in process inventory
Finished goods inventory
Cost of goods sold

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