The accounting information system of Bell Co. reported the following cost and inventory data for the year:CostsRaw materials purchasedDirect LaborIndirect laborFactory equipment maintenance and depreciation iFactory rentFactory suppliesSelling & administrative expenses$145,000$123,000$88,000O $163,000InventoriesRaw MaterialsWork in ProcessFinished GoodsRequired: Calculate the conversion costs.Beginning Balance$5,00025,00020,000$75,00055,00033,00015,00036,0006,000100,000Ending Balance$20,00030,00035,000

Conversion Costs :— It is the sum of direct labor cost and factory overhead cost. Factory overhead…

The accounting information system of Bell Co. reported the following cost and inventory data for the year: Costs Raw materials purchased Direct Labor $145,000 $123,000 $88,000 $163,000 Indirect labor Factory equipment maintenance and depreciation Factory rent Factory supplies Selling & administrative expenses Inventories Raw Materials Work in Process Finished Goods Required: Calculate the conversion costs. Beginning Balance $5,000 25,000 20,000 $75,000 55,000 33,000 15,000 36,000 6,000 100,000 Ending Balance $20,000 30,000 35,000

The accounting information system of Bell Co. reported the following cost and inventory data for the year: Costs Raw materials purchased Direct Labor $145,000 $123,000 $88,000 $163,000 Indirect labor Factory equipment maintenance and depreciation Factory rent Factory supplies Selling & administrative expenses Inventories Raw Materials Work in Process Finished Goods Required: Calculate the conversion costs. Beginning Balance $5,000 25,000 20,000 $75,000 55,000 33,000 15,000 36,000 6,000 100,000 Ending Balance $20,000 30,000 35,000

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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