The following information was taken from the accounting records of Reliable Tool Corporation: Work in process inventory, beginning of the year Cost of direct materials used ..... Direct labor cost applied to production Cost of finished goods manufactured $ 35,000 245,000 120,000 675,000 Overhead is assigned to production at $300,000. Compute the amount of the work in process
The following information was taken from the accounting records of Reliable Tool Corporation: Work in process inventory, beginning of the year Cost of direct materials used ..... Direct labor cost applied to production Cost of finished goods manufactured $ 35,000 245,000 120,000 675,000 Overhead is assigned to production at $300,000. Compute the amount of the work in process
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:The following information was taken from the accounting records of Reliable Tool Corporation:
Work in process inventory, beginning of the year
Cost of direct materials used . . . . .
Direct labor cost applied to production
Cost of finished goods manufactured
$ 35,000
245,000
120,000
675,000
Overhead is assigned to production at $300,000. Compute the amount of the work in process
inventory on hand at year-end.
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