Question
ABC Company had the following inventory balances for Year 2: Beginning BalanceEnding BalanceRaw Materials$470$160Work In Process$420$310Finished Goods$450$1150 During Year 2, ABC Company had the following
ABC Company had the following inventory balances for Year 2:
Beginning BalanceEnding BalanceRaw Materials$470$160Work In Process$420$310Finished Goods$450$1150
During Year 2, ABC Company had the following transactions related to inventory:
- Purchased $220 of raw materials
- Incurred direct labor costs of $180
- Allocated manufacturing overhead costs of $90
- Sold inventory to customers for $700 that cost $210 to make
What was ABC Company's Total Manufacturing Cost during Year 2?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
