The following information is available for Erado Company at December 31, 2017: 1. Inventory balance Beginning of Year End of Year   Finished Goods $14,000 $10,000   Work in Process 6,000 12,000   Raw Materials 10,300 6,500 Debit postings to Work in Process Inventory during the year were: Direct materials $90,000 Direct labor 60,000 Manufacturing overhead applied 75,000 Instructions (a)     Prepare a condensed cost of goods manufactured schedule.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following information is available for Erado Company at December 31, 2017:

1.

Inventory balance

Beginning of Year

End of Year

 

Finished Goods

$14,000

$10,000

 

Work in Process

6,000

12,000

 

Raw Materials

10,300

6,500

  1. Debit postings to Work in Process Inventory during the year were:

Direct materials

$90,000

Direct labor

60,000

Manufacturing overhead applied

75,000

Instructions

(a)     Prepare a condensed cost of goods manufactured schedule.

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