Question
he financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained from a separate set of
he 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. | 8,000 | ? | Transferred Out |
| Purchases | ? | ||
| End. Bal. | 6,400 | ||
| Cost of Goods Sold | |||
| 57,000 | |||
| Work-in-Process Inventory | |||
| Beg. Bal. | 7,500 | ? | Transferred Out |
| Materials | 18,000 | ||
| Labor | 13,500 | ||
| Overhead | 8,000 | ||
| End. Bal. | ? | ||
| Finished Goods Inventory | |||
| Beg. Bal. | ? | ? | Transferred Out |
| Transferred in | 39,500 | ||
| End. Bal. | 4,200 | ||
What is the amount of the materials purchased?
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Accounting What The Numbers Mean
Authors: David Marshall, Wayne William McManus, Daniel Viele
6th Edition
0072834641, 978-0072834642
