Answered step by step
Verified Expert Solution
Question
1 Approved Answer
11 Swifty Manufacturing Inc.'s accounting records reflect the following inventories: Dec. 31, 2019 Dec. 31, 2020 Raw materials inventory $99800 $80300 Work in process inventory
11
Swifty Manufacturing Inc.'s accounting records reflect the following inventories:
Dec. 31, 2019 | Dec. 31, 2020 | ||
Raw materials inventory | $99800 | $80300 | |
Work in process inventory | 130400 | 145300 | |
Finished goods inventory | 125400 | 114300 |
During 2020, Swifty purchased $949400 of raw materials, incurred direct labour costs of $126000, and incurred manufacturing overhead totalling $160600. How much is total manufacturing costs incurred during 2020 for Swifty?
| $1242500 |
| $1255500 |
| $1236000 |
| $1250900 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started