Chapter 2 Practice Problems

Chapter 2 Practice Problems - Total Work in Process for...

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Davis Corporation One Year Completed A Raw Materials Begin Raw Material Inventory 160,000 Direct Labor $800,000 Raw Materials Purchased 480,000 Mfg Overhead $920,000 Raw Material Avail. For Production Use 640,000 Sales $3,960,000 End Raw Material Inventory 280,000 Raw Materials Used In Production 360,000 Period Cost Adminstrative Expenses $600,000 Goods Manufactured Selling Expenses $560,000 Raw Materials Used In Production 360,000 Direct Labor 800,000 Mfg Overhead 920,000 Total Manufacturing Costs 2,080,000 Begin Work in Process Inventory 280,000
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Unformatted text preview: Total Work in Process for Period 2,360,000 End Work in Process Inventory 200,000 Cost of Goods Manufactured 2,160,000 C Goods Sold Begin Finished Goods Inventory 480,000 Cost of Goods Manufactured 2,160,000 Cost of Goods Avail. For Sale 2,640,000 End Finished Goods Inventory 640,000 Cost of Goods Sold 2,000,000 D Net Income Sales 3,960,000 Cost fo Goods Sold 2,000,000 Adminstrative Expenses 600,000 Selling Expenses 560,000 Net Income 800,000 E. Product Cost...
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