The following information pertains to Rami manufacturing Co.: 1- Beginning inventories: Materials $10,000; Work in process $7,000; Finished goods $8,000. 2- Ending inventories: Materials $2,000; Work in process $5,000; Finished goods $3,000. 3- During the year the company purchased materials of $20,000. 4- The company paid labor wages of 75% of the conversion cost. 5 - The overhead manufacturing costs paid cash during the period. 6- The finished goods during the period were $60,000. Instruction: Prepare the journal entries.

The following information pertains to Rami manufacturing Co.: 1- Beginning inventories: Materials $10,000; Work in process $7,000; Finished goods $8,000. 2- Ending inventories: Materials $2,000; Work in process $5,000; Finished goods $3,000. 3- During the year the company purchased materials of $20,000. 4- The company paid labor wages of 75% of the conversion cost. 5 - The overhead manufacturing costs paid cash during the period. 6- The finished goods during the period were $60,000. Instruction: Prepare the journal entries.

Name: am. 113. The following information pertains to Rami manufacturing Co.:
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Description: am. 113. The following information pertains to Rami manufacturing Co.: 1- Beginning inventories: Materials $10,000; Work in process $7,000; Finished goods $8,000. 2 - Endinginventories: Materials $2,000; Work in process $5,000; Finished goods $3,000.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 7BE: In October, the cost of materials transferred into the Rolling Department from the Casting...

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