B-17.07 Problem

B-17.07 Problem - 10 of factory overhead related to...

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B-17.07 Fairbain Corporation was newly formed early in 20X1. The following information relates to the full year: Raw materials purchased (net) $ 3,000,000 Direct labor costs 2,000,000 Factory overhead 1,500,000 700,000 80% of the available raw material was transferred into production. 75% of the work in process was completed. 90% of the finished goods were sold.
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Unformatted text preview: 10% of factory overhead related to depreciation. 20% of SG&A related to depreciation. (a) How much is in ending inventory for (1) raw materials, (2) work in process, and (3) finished goods? (b) How much is in (1) cost of goods sold and (2) SG&A expense for the period? (c) How much of the total depreciation for the period is charged against income during the period?...
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 101 taught by Professor Hudack during the Spring '11 term at FIU.

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