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Matrix Co.'s beginning and ending inventories for the month of October are: BEGINNING ENDING DIRECT MATERIALS 67,000.00 60,000.00 WORK IN PROCESS 145,000.00 170,000.00 FINISHED GOODS
Matrix Co.'s beginning and ending inventories for the month of October are: BEGINNING ENDING DIRECT MATERIALS 67,000.00 60,000.00 WORK IN PROCESS 145,000.00 170,000.00 FINISHED GOODS 85,000.00 70,000.00 Production data for the same month are: DIRECT LABOR ACTUAL FACTORY OVERHEAD DIRECT MATERIALS PURCHASED TRANSPORTATION IN PURCHASE RETURNS AND ALLOWANCES 220,000.00 145,200.00 179,300.00 4,400.00 2,200.00 Matrix uses one factory overhead control account and charges factory overhead to production at 70% of direct labor cost. The company does not formally recognize over or underapplied overhead until year end. 1. What prime cost should be reported for October? 2. What were the total manufacturing costs incurred during October? 3. What was the cost of goods transferred to finished goods inventory for October
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