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1. X LLC had the following inventory amounts: 9/30/2020 12/31/2020 Raw materials 3112 3471 WIP 4835 5106 Finished goods 3304 ??? During Q4 2020, the
1. X LLC had the following inventory amounts: 9/30/2020 12/31/2020 Raw materials 3112 3471 WIP 4835 5106 Finished goods 3304 ??? During Q4 2020, the company purchased $7855 of raw materials. In addition, the firm incurred the following costs during the quarter: direct labor of $3325, variable manufacturing overhead of $2554, fixed manufacturing overhead of $3010, variable non-manufacturing overhead of $4406, and fixed non- manufacturing overhead of $5385. Cost of goods sold in Q4 was 15113. X LLC uses full absorption costing. 1) How much raw materials did X transfer to WIP in Q4 2020? 2) Notwithstanding the answer you got to the previous question, now assume the transfers from raw materials to WIP was actually 6541. What was the cost of goods manufactured in Q4 2020? 3) Notwithstanding the answer you got to the previous question, now assume the cost of goods manufactured was actually 16258. What was the 12/31/2020 amount for finished goods
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