Warren Manufacturing began business on January 1. During its first year of operation, Warren worked on five industrial jobs and reported the following information at year-end:Job 1Job 5$1,000$1,50012,0008001,500200Jun 30Not completedJul 10N/A$25,000N/AWhat was the balance in Finished Goods Inventory at year-end?Direct MaterialsDirect LaborAllocated Mfg. OverheadJob completed:Job sold:Revenues:OA. $43,300OB. $33,700OC. $23,200O D. $20,100Job 2$7,50020,0006,000Sep 1Sep 12$39,000Job 3$4,20013,6002,300Oct 15Not soldN/AJob 4$3,40012,5007,300Nov 1Not soldN/A

Name: Warren Manufacturing began business on January 1. During its first ye
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Description: Warren Manufacturing began business on January 1. During its first year of operation, Warren worked on five industrial jobs and reported the following information at year-end:Job 1Job 5$1,000$1,50012,0008001,500200Jun 30Not completedJul 10N/A$25,000

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Warren Manufacturing began business on January 1. During its first year of operation, Warren worked on five industrial jobs and reported the following information at year-end: Job 1 Job 2 Job 3 Job 4 Job 5 $1,000 $7,500 $4,200 $3,400 $1,500 20,000 13,600 12,500 800 2,300 7,300 200 Oct 15 Not completed Not sold Nov 1 Not sold N/A N/A N/A N/A Direct Materials Direct Labor Allocated Mfg. Overhead Job completed: Job sold: Revenues: 12,000 1,500 OA. $43,300 OB. $33,700 OC. $23,200 O D. $20,100 6,000 Sep 1 Sep 12 $39,000 Jun 30 Jul 10 $25,000 What was the balance in Finished Goods Inventory at year-end?

Warren Manufacturing began business on January 1. During its first year of operation, Warren worked on five industrial jobs and reported the following information at year-end: Job 1 Job 2 Job 3 Job 4 Job 5 $1,000 $7,500 $4,200 $3,400 $1,500 20,000 13,600 12,500 800 2,300 7,300 200 Oct 15 Not completed Not sold Nov 1 Not sold N/A N/A N/A N/A Direct Materials Direct Labor Allocated Mfg. Overhead Job completed: Job sold: Revenues: 12,000 1,500 OA. $43,300 OB. $33,700 OC. $23,200 O D. $20,100 6,000 Sep 1 Sep 12 $39,000 Jun 30 Jul 10 $25,000 What was the balance in Finished Goods Inventory at year-end?

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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