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Beginning   Ending Raw materials inventory $12,000   $  8,000 Work-in-process inventory 45,000   55,000 Finished goods inventory 9,000   11,000         Raw materials purchased     $45,000 Direct labor costs     80,000 Overhead costs     30,000   Selling and administrative costs     20,000 McClintock Manufacturing Inc. has the above information available for the month of July: Question: How much is the Cost of Goods Manufactured for July

Beginning   Ending Raw materials inventory $12,000   $  8,000 Work-in-process inventory 45,000   55,000 Finished goods inventory 9,000   11,000         Raw materials purchased     $45,000 Direct labor costs     80,000 Overhead costs     30,000   Selling and administrative costs     20,000 McClintock Manufacturing Inc. has the above information available for the month of July: Question: How much is the Cost of Goods Manufactured for July

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter5: Process Costing
Section: Chapter Questions
Problem 11MC: Beginning inventory and direct material cost added during the month total $55,000. What is the value...
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Question

Beginning

 

Ending

Raw materials inventory

$12,000

 

$  8,000

Work-in-process inventory

45,000

 

55,000

Finished goods inventory

9,000

 

11,000

 

 

 

 

Raw materials purchased

 

 

$45,000

Direct labor costs

 

 

80,000

Overhead costs

 

 

30,000

 

Selling and administrative costs

 

 

20,000

McClintock Manufacturing Inc. has the above information available for the month of July:

Question: How much is the Cost of Goods Manufactured for July

 

 

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