Question 2 ACCO 501 - Beginning WIP Inventory, January 1...

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Question 2: Work-in-process inventory (January 1) $140,400 Work-in-process inventory (March 31) $171,000 Finished goods inventory (January 1) $540,000 Finished goods inventory (March 31) $510,000 Direct materials used 378,000 Indirect materials used 84,000 Direct manufacturing labor 480,000 Indirect manufacturing labor 186,000 28,800 Salespersons' company vehicle costs 12,000 264,000 Depreciation of office equipment 123,600 Miscellaneous plant overhead 135,000 Plant utilities 92,400 General office expenses 305,400 Marketing distribution costs 30,000 Cost of goods manufactured
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Unformatted text preview: Beginning WIP Inventory, January 1 $140,400 + Total manufacturing costs 2,119,200 = $2,259,600 - Ending WIP Inventory, March 31 $171,000 = Cost of good manufactured $2,088,600 Cost of goods sold Property taxes on manufacturing plant building Depreciation of manufacturing equipment Total manufacturing costs to account for Beginning FG Inventory, January 1 $540,000 + Cost of goods manufactured $2,088,600 - Ending FG inventory, March 31 $510,000 = Cost of goods sold $2,118,600...
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This note was uploaded on 03/13/2011 for the course ACCO 501 taught by Professor Rosa during the Spring '11 term at American University - Puerto Rico.

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Question 2 ACCO 501 - Beginning WIP Inventory, January 1...

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