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y, Econo Company purchased materials costing $16,400 and incurred direct labor costs of $27,000. Overhead totaled $32,700 for the month. Information on inventories was as follows: July 1 July 31 Materials $4,500 $5,200 Work in process $ 700 $1,200 Finished goods $3,100 $2,700 What were the total manufacturing costs in July?

y, Econo Company purchased materials costing $16,400 and incurred direct labor costs of $27,000. Overhead totaled $32,700 for the month. Information on inventories was as follows: July 1 July 31 Materials $4,500 $5,200 Work in process $ 700 $1,200 Finished goods $3,100 $2,700 What were the total manufacturing costs in July?

FINANCIAL ACCOUNTING
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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In July, Econo Company purchased materials costing $16,400 and incurred direct labor costs of $27,000. Overhead totaled $32,700 for the month. Information on inventories was as follows: July 1 July 31 Materials $4,500 $5,200 Work in process $ 700 $1,200 Finished goods $3,100 $2,700 What were the total manufacturing costs in July?
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