The data for a work in process inventory account for a company follows: Beginning Work In Process Inventory Direct Materials Used Direct Labor $115,000 $85,000 $45,000 $70,000 Overhead Applied Completed and transferred to ?? Finished Goods Ending Work In Process Inventory Calculate the amount completed and transferred to finished goods. $195,000 $65,000 $565,000 $135,000 $250,000

The data for a work in process inventory account for a company follows: Beginning Work In Process Inventory Direct Materials Used Direct Labor $115,000 $85,000 $45,000 $70,000 Overhead Applied Completed and transferred to ?? Finished Goods Ending Work In Process Inventory Calculate the amount completed and transferred to finished goods. $195,000 $65,000 $565,000 $135,000 $250,000

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 14PA: Loanstar had 100 units in beginning inventory before starting 950 units and completing 800 units....

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Selected information concerning the operations of a company for the year ended December 31 is as follows: Work in process inventories at the beginning and end of the year were zero. Beginning inventory of finished goods was 9,650 (for 1,000 units). Cost of goods sold was 174,600. What was the companys finished goods inventory cost at December 31? a. 98,050 b. 29,100 c. 29,050 d. 40,600
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