SAMPLE PROBLEMS PROBLEM # 1 ASSUME FOLLOWING INFORMATION: S BEG. INVENTORY S END. INVENTORY Raw Mtls Work in Process Finished Goods 10 5 20 30 40 10 Raw Materials Purchases- $15 Direct Labor =$10 Overhead $40 PROBLEM #2 ASSUME THE FOLLOWING INFORMATION: S10 S40 Raw materials beg, inventory Work in process end. inventory Finished goods Beg, inventory Purchases Finished $100 s end. inventory Note: Raw material end. inventory will be twice as Work in process beg. inventory will be one half as large as work in process end. inventory Net Income is $60 Sales are $450 Overhead is $20 Problem #3 ASSUME THE FOLLOWING INFORMATION RawMtls Work in Process Finished Goods BEG. INVENTORY END. INVENTORY S10 S5 S40 $10 S30 Raw Materials purchases -$15 Direct Labor Overhead SALES -S135 (note: Sales are marked up 50% over Cost ofgoods sold.) $10 $40 QUESTION: Find Work in Process Beginning Inventory