Question
A company'saccounting records reflect the following inventories: Dec. 31, 2011 -Raw materials inventorywas $80,000; Work in process inventory was 104,000;Finished goods inventory was 100,000; Dec.
A company'saccounting records reflect the following inventories: Dec. 31, 2011-Raw materials inventorywas $80,000; Work in process inventory was 104,000;Finished goods inventory was 100,000; Dec. 31, 2012- Raw materials inventorywas$64,000; Work in process inventorywas116,000; Finished goods inventory was92,000. During 2012,the companypurchased $860,000 of raw materials, incurred direct labor costs of $200,000, and incurred manufacturing overhead totaling $128,000. Thetotal manufacturing costs incurred during 2012 for the company was $1,204,000. How do you find the answer to this question?
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