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The Goods in Process Inventory account for the AB Corp. follows: Goods in Process Inventory Beginning balance 6,600 Direct materials 61,800 Direct labor 40,100 ?
The Goods in Process Inventory account for the AB Corp. follows:
Goods in Process Inventory |
Beginning balance | 6,600 | |||
Direct materials | 61,800 | |||
Direct labor | 40,100 | ? | Finshed goods | |
Applied overhead | 21,400 | |||
Ending balance | 12,400 |
The cost of units transferred to finished goods is:
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