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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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