Use the information below to answer the following two questions: Herbal Company provides the following data for the year ended December 31. $13,000 Cost of goods available for sale during the year Direct materials used in production Direct labor cost used in production Actual manufacturing overhead cost $3,000 $2,000 $1,300 Inventory balances at the beginning and end of the year were as follows: Beginning $10,000 Ending Raw materials $11,000 $1,500 Work in process Finished goods $2,000 $6,000 $4,000 17 How much is the total manufacturing cost for the year? $6,500 $7,000 А. В. С. $6,300 D. $12,500 E. None of the above
Use the information below to answer the following two questions: Herbal Company provides the following data for the year ended December 31. $13,000 Cost of goods available for sale during the year Direct materials used in production Direct labor cost used in production Actual manufacturing overhead cost $3,000 $2,000 $1,300 Inventory balances at the beginning and end of the year were as follows: Beginning $10,000 Ending Raw materials $11,000 $1,500 Work in process Finished goods $2,000 $6,000 $4,000 17 How much is the total manufacturing cost for the year? $6,500 $7,000 А. В. С. $6,300 D. $12,500 E. None of the above
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Use the information below to answer the following two questions:
Herbal Company provides the following data for the year ended December 31.
Cost of goods available for sale during the year
Direct materials used in production
Direct labor cost used in production
Actual manufacturing overhead cost
$13,000
$3,000
$2,000
$1,300
Inventory balances at the beginning and end of the year were as follows:
Beginning
$10,000
$2,000
$6,000
Ending
$11,000
Raw materials
Work in process
Finished goods
$1,500
$4,000
17 How much is the total manufacturing cost for the year?
$6,500
$7,000
$6,300
A.
В.
С.
D.
$12,500
Е.
None of the above
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