The following chart shows how costs flow through a business as a product is manufactured. Some boxes
Question:
The following chart shows how costs flow through a business as a product is manufactured. Some boxes in the flowchart show cost amounts. Compute the cost amounts for the boxes that contain question marks.
Transcribed Image Text:
Materials Activity Raw materials purchases $37,500 Beginning raw materials invontory $7,500 Raw materials available Ending raw materials inventory $5,000 for use in production Direct materials used in production Production Activity Direct labor used Factory overhead used in production $132,000 in production $78,000 Total goods in Ending goods in process inventory Beginning goods in process inventory $22,500 process Finished goods manufactured $245,500 Sales Activity Beginning finished goods inventory Finished goods Ending finished available for sale goods inventory $30,000 $286,000 Finished goods sold
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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