accounting - $22250 Materials $14000 Wages payables $6000...

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a) Work in process inventory March 1 $19,000 Cost of materials placed in production 64,000 Direct Labor 23,000 Factory overhead 33,000 Total manufacturing costs added 120,000 Total manufacturing costs 139,000 Less work in process inventory, March 31 19,500 Cost of goods manufactured $120,500 (b) Finished goods inventory, March 1 $23,000 Cost of goods manufactured 120,500 Cost of finished goods available for sales 143,500 Less finished goods inventory, March 31 24,000 Cost of goods sold 119,500 27 answer is B. 28 ANSWER IS c 29. answer is A 30 ANSWER IS c 35. Debit credit Factory overhead
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Unformatted text preview: $22250 Materials $14000 Wages payables $6000 Utilities $700 Accumulated depreciation $500 Small tools $200 Equipment rental $850 36.PART (A) received june 3 balance 1100units @18 16-Jun 1700 units@16 29-Jun 900 units @19 issued 11-Jun 700 units 18-Jun 1900 units 30-Jun 800 units FIFO METHOD: cost: 11-Jun 700 units *18 12600 18-Jun 400 units *18 7200 18-Jun 1500 units*16 24000 30-Jun 200units*16 3200 30-Jun 600units*19 11400 total cost 58400 b) debit credit work in process 58400 materials 58400...
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This note was uploaded on 08/22/2011 for the course ACCOUNTING 201 taught by Professor Stevejoseph during the Winter '11 term at Aarhus Universitet.

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accounting - $22250 Materials $14000 Wages payables $6000...

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