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Johnson Textiles Company employs Just in Time operating system with backflush costing. During the month of July direct material costing 505,000 was used for complted work with conversion cost of 700,000.  At the end of the month 200,000 was assigned to work in process inventory account. Finished goods inventory ending balance was 230,000. Required: Compute for the following a, Amount charged to co

Johnson Textiles Company employs Just in Time operating system with backflush costing. During the month of July direct material costing 505,000 was used for complted work with conversion cost of 700,000.  At the end of the month 200,000 was assigned to work in process inventory account. Finished goods inventory ending balance was 230,000. Required: Compute for the following a, Amount charged to co

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 6PA: During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of...
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Johnson Textiles Company employs Just in Time operating system with backflush costing. During the month of July direct material costing 505,000 was used for complted work with conversion cost of 700,000. 

At the end of the month 200,000 was assigned to work in process inventory account. Finished goods inventory ending balance was 230,000.

Required: Compute for the following

a, Amount charged to cost of goods sold

b. Ending balance of cost of goods sold

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