Question
Work-in-process inventory, January 1, 2011 $ 51,000 Work-in-process inventory, December 31, 2011 $ 56,500 Conversion costs during the year $ 423,000 1. If direct materials
| Work-in-process inventory, January 1, 2011 | $ 51,000 |
| Work-in-process inventory, December 31, 2011 | $ 56,500 |
| Conversion costs during the year | $ 423,000 |
1. If direct materials used during the year were $143,000, what was cost of goods manufactured?
2. If the cost of goods manufactured for the year was $575,000, what was the amount of direct materials used during the year?
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Principles of Accounting
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
12th edition
978-1133603054, 113362698X, 9781285607047, 113360305X, 978-1133626985
