Question
9. The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained from a separate set
9.
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained from a separate set of books maintained by the cost accountant. The cost accountant now asks for your assistance in computing the missing amounts.
| Direct Materials Inventory | |||
| Beg. Bal. | 9,600 | ? | Transferred Out |
| Purchases | ? | ||
| End. Bal. | 8,000 | ||
| Cost of Goods Sold | |||
| 73,000 | |||
| Work-in-Process Inventory | |||
| Beg. Bal. | 9,100 | ? | Transferred Out |
| Materials | 21,200 | ||
| Labor | 15,100 | ||
| Overhead | 9,600 | ||
| End. Bal. | ? | ||
| Finished Goods Inventory | |||
| Beg. Bal. | ? | ? | Transferred Out |
| Transferred in | 41,100 | ||
| End. Bal. | 5,800 | ||
What is the value of the beginning Finished Goods Inventory?
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
Effective Communications
Authors: Elearn
1st Edition
1138456136, 9781138456136
