Work-in-Process Inventory-Cutting Balance, May 1 0 (a) Transfer out to Direct Materials 57,000 Direct Labor 5,000 Manufacturing Overhead Balance, May 31 39,000 16,000 Work-in-Process Inventory-Finishing 11,000 80,000 (b) 21,000 Balance, May 1 Transfer in from Transfer out to Direct Materials Direct Labor (c) Manufacturing Overhead Balance, May 31 18,000 68,000| Balance, May 1 Transfer in from Work-in-Process Inventory-Packaging 4,000 (d) (e) Transfer out to Direct Materials 1,000 Direct Labor 9,000 Manufacturing Overhead Balance, May 31 14,000 8,000 Finished Goods Inventory 0 (f) (g) 2,000 Balance, May 1 Transfer out to Transfer in from. Balance, May 31 Cost of Goods Sold Balance, May 1 (h) (i)| Transfer in from Balance, May 31

Work-in-Process Inventory-Cutting Balance, May 1 0 (a) Transfer out to Direct Materials 57,000 Direct Labor 5,000 Manufacturing Overhead Balance, May 31 39,000 16,000 Work-in-Process Inventory-Finishing 11,000 80,000 (b) 21,000 Balance, May 1 Transfer in from Transfer out to Direct Materials Direct Labor (c) Manufacturing Overhead Balance, May 31 18,000 68,000| Balance, May 1 Transfer in from Work-in-Process Inventory-Packaging 4,000 (d) (e) Transfer out to Direct Materials 1,000 Direct Labor 9,000 Manufacturing Overhead Balance, May 31 14,000 8,000 Finished Goods Inventory 0 (f) (g) 2,000 Balance, May 1 Transfer out to Transfer in from. Balance, May 31 Cost of Goods Sold Balance, May 1 (h) (i)| Transfer in from Balance, May 31

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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