I-19.02 Problem

I-19.02 Problem - I-19.02 Hawthorn Corporation manufactures...

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I-19.02 Raw materials $ 65,000 Work in process 27,000 Finished goods 80,000 Purchased $112,000 of raw materials. The following descriptions summarize the various transactions that occurred during March: The above beginning work in process consisted only of Job # 02.778. The finished goods inventory consisted of Job # 01.987 ($42,500) and Job # 02.665 ($37,500). Other factory overhead costs, excluding indirect materials, wages, and depreciation, totaled $35,500. Other general and administrative costs, excluding wages and depreciation, totaled $15,000. Depreciation for the period totaled $28,000. 75% of this amount related to factory and factory related equipment, and is contemplated in the factory overhead rates. The other 25% is related to general and administrative activities. Total wages and salaries were $225,000. This total was 60% attributable to direct labor, 10% to indirect labor, 5% to sales commissions, and 25% to general and administrative activities. The ending work in process consisted of two jobs:
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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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I-19.02 Problem - I-19.02 Hawthorn Corporation manufactures...

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