ICA_8_KEY - In-Class Assignment#8 KEY Raw materials...

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Unformatted text preview: In-Class Assignment #8 KEY Raw materials inventory -----------------Work-in-process inventory --------------Finished goods inventory ----------------- Beginning $2,000 4,000 1,500 During the month of October: Raw materials purchased ----------------Direct labor incurred ---------------------Manufacturing overhead incurred -----Period costs incurred----------------------- Ending $800 3,100 2,500 $8,000 5,000 4,000 10,000 Question: What was CGS? Beginning RM + RM purchases RM Available - Ending RM RM used (transferred to WIP) $2,000 8,000 10,000 (800) $9,200 Beginning WIP + RM used + DL + MOH Subtotal - Ending WIP CGM (transferred to FG) $4,000 9,200 5,000 4,000 22,200 (3,100) $19,100 Beginning FG + CGM Cost of Goods Available for Sale - Ending FG CGS $1,500 19,100 20,600 (2,500) $18,100 ...
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