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The following information has been taken from the perpetual inventory system of Elite Mfg. Co. for the month ended August 30: Purchases of direct materials Direct materials used $55,000 $45,000 Direct labor costs assigned to production $20,000 Manufacturing overhead costs incurred (and $30,000 applied) August Balances in inventory August 1 30 Materials $? $20,000 Work in Process $60,000 $42,000 $38,000 Finished Goods $55,000 40. Total manufacturing costs charged (debited) to work in process during August amount to: a. $100,000. b. $110,000. c. $95,000. d. Some other amount.

The following information has been taken from the perpetual inventory system of Elite Mfg. Co. for the month ended August 30: Purchases of direct materials Direct materials used $55,000 $45,000 Direct labor costs assigned to production $20,000 Manufacturing overhead costs incurred (and $30,000 applied) August Balances in inventory August 1 30 Materials $? $20,000 Work in Process $60,000 $42,000 $38,000 Finished Goods $55,000 40. Total manufacturing costs charged (debited) to work in process during August amount to: a. $100,000. b. $110,000. c. $95,000. d. Some other amount.

Financial Accounting Intro Concepts Meth/Uses
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter9: Working Capital
Section: Chapter Questions
Problem 27E
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The following information has been taken from the perpetual inventory system of Elite Mfg. Co. for the month ended August 30: Purchases of direct materials Direct materials used $55,000 $45,000 Direct labor costs assigned to production $20,000 Manufacturing overhead costs incurred (and $30,000 applied) August Balances in inventory August 1 30 Materials $? $20,000 Work in Process $60,000 $42,000 $38,000 Finished Goods $55,000 40. Total manufacturing costs charged (debited) to work in process during August amount to: a. $100,000. b. $110,000. c. $95,000. d. Some other amount.
Transcribed Image Text:The following information has been taken from the perpetual inventory system of Elite Mfg. Co. for the month ended August 30: Purchases of direct materials Direct materials used $55,000 $45,000 Direct labor costs assigned to production $20,000 Manufacturing overhead costs incurred (and $30,000 applied) August Balances in inventory August 1 30 Materials $? $20,000 Work in Process $60,000 $42,000 $38,000 Finished Goods $55,000 40. Total manufacturing costs charged (debited) to work in process during August amount to: a. $100,000. b. $110,000. c. $95,000. d. Some other amount.
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