Question
The accounting records of Hobart Industries show the following information for the most recent year ended December 31: Dec. 31 Jan. 1 Inventory of work
| The accounting records of Hobart Industries show the following information for the most recent year ended December 31: |
| Dec. 31 | Jan. 1 | |||||||||||||||
| Inventory of work in process | $ | 40,000 | $ | 18,000 | ||||||||||||
| Inventory of finished goods | 60,000 | 68,000 | ||||||||||||||
| Direct materials used | 250,000 | |||||||||||||||
| Direct labor | 120,000 | |||||||||||||||
| Manufacturing overhead | 145,000 | |||||||||||||||
| Selling expenses | 135,000 | |||||||||||||||
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Auditing And Assurance Services A Systematic Approach
Authors: William Messier, Steven Glover, Douglas Prawitt
5th Edition
007333720X, 9780073337203
