Question
The following accounts are from last year's books of Sharp Manufacturing: Raw Materials Beg Bal 0 (b) 77,000 (a) 82,000 5,000 Finished Goods Beg Bal
The following accounts are from last year's books of Sharp Manufacturing:
| Raw Materials | |||
| Beg Bal | 0 | (b) | 77,000 |
| (a) | 82,000 |
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| 5,000 |
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| Finished Goods | |||
| Beg Bal | 0 | (g) | 230,000 |
| (f) | 255,000 |
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| 25,000 |
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| Work in Process | |||
| Beg Bal | 0 | (f) | 255,000 |
| (b) | 66,000 |
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| (c) | 84,000 |
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| (e) | 105,000 |
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| 0 |
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| Manufacturing Overhead | |||
| (b) | 11,000 | (e) | 105,000 |
| (c) | 13,000 |
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| (d) | 78,000 |
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| (h) | 3,000 |
| 3,000 |
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| Cost of Goods Sold | |||
| (g) | 230,000 | (h) | 3,000 |
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| 227,000 |
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Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the amount of direct materials used for the year?
| a. | $82,000 | |
| b. | $77,000 | |
| c. | $66,000 | |
| d. | $84,000 |
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Tips For The New Auditor
Authors: Marty Sturino
1st Edition
1733097813, 978-1733097819
