The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained from a separate set of books maintained by the cost accountant. The cost accountant now asks for your assistance in computing the missing amounts. Direct Materials Inventory Beg. Bal. 8,900 ? Transferred Out Purchases ? End. Bal. 7,300 Cost of Goods Sold 66,000 Work-in-Process Inventory Beg. Bal. 8,400 ? Transferred Out Materials 19,800 Labor 14,400 Overhead 8,900 End. Bal. ? Finished Goods Inventory Beg. Bal. ? ? Transferred Out Transferred in 40,400 End. Bal. 5,100 What is the value of the ending Work-in-Process inventory balance? 1 8900 2 11100 3 5100 4 0
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained from a separate set of books maintained by the cost accountant. The cost accountant now asks for your assistance in computing the missing amounts. Direct Materials Inventory Beg. Bal. 8,900 ? Transferred Out Purchases ? End. Bal. 7,300 Cost of Goods Sold 66,000 Work-in-Process Inventory Beg. Bal. 8,400 ? Transferred Out Materials 19,800 Labor 14,400 Overhead 8,900 End. Bal. ? Finished Goods Inventory Beg. Bal. ? ? Transferred Out Transferred in 40,400 End. Bal. 5,100 What is the value of the ending Work-in-Process inventory balance? 1 8900 2 11100 3 5100 4 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained from a separate set of books maintained by the cost accountant. The cost accountant now asks for your assistance in computing the missing amounts.
| Direct Materials Inventory | |||
| Beg. Bal. | 8,900 | ? | Transferred Out |
| Purchases | ? | ||
| End. Bal. | 7,300 |
| Cost of Goods Sold | |||
| 66,000 | |||
| Work-in-Process Inventory | |||
| Beg. Bal. | 8,400 | ? | Transferred Out |
| Materials | 19,800 | ||
| Labor | 14,400 | ||
| 8,900 | |||
| End. Bal. | ? |
| Finished Goods Inventory | |||
| Beg. Bal. | ? | ? | Transferred Out |
| Transferred in | 40,400 | ||
| End. Bal. | 5,100 |
What is the value of the ending Work-in-Process inventory balance?
1 8900
2 11100
3 5100
4 0
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