Answered step by step
Verified Expert Solution
Question
1 Approved Answer
On January 1 Primary Manufacturing had a beginning balance in Work-in-Process Inventory of $81,200 and a beginning balance in Firnished Goods Inventory of $21,000. During
On January 1 Primary Manufacturing had a beginning balance in Work-in-Process Inventory of $81,200 and a beginning balance in Firnished Goods Inventory of $21,000. During the year, Primary incumed manufacturing costs of $354,000 in addition, the following transactions occured during the year Job A- 12 was completed for a total cost of $127,000 and was sold for $126.000 Job A- 13 was completed for a total cost of $202,000 and was sold for $210.000 Job A-15 was completed for a total cost 560,000 buft was not sold as of year-end account had an unasusted credt balance of $12.000, and was adjuited to ero at year-end What was the final balance in the Cost of Goods Soid account B. $329,000 debit balance C. $12.000 oredit balance
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