Answered step by step
Verified Expert Solution
Question
1 Approved Answer
For 2023, Lewis turn manufacturing reposted for following Sales Revenues $420,000 Beginning inventory of direct materials, January 1 22,000 Purchase of direct materials 146,000 Ending
For 2023, Lewis turn manufacturing reposted for following
Sales Revenues | $420,000 |
Beginning inventory of direct materials, January 1 | 22,000 |
Purchase of direct materials | 146,000 |
Ending inventory of direct materials , December 31 | 16,000 |
Direct Labor | 18,000 |
Manufacturing Overhead | 40,000 |
Work in process Inventory January 1 | 2,000 |
Work in process Inventory December 31 | 108,000 |
Beginning Inventory of Finished Goods January 1 | 35,000 |
Beginning Inventory of Finished Goods December 31 | 36,000 |
Operating Expenses | 117,000 |
5. What was Lewisburn's manufacturing costs for 2023?
- 152,000 c) 212,000
b) 210,000 d) 200,000
e) None of these.
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