Please help me Selected ledger accounts for Realm Company are given below for the just-completed yearRaw Materials30 ,000420,00060, 800Bal. 1/1CreditsDebitsBal. 31/12Manufacturing OverheadCredits385, 000DebitsBal. 1/1Direct materialsDirect labourOverheadWork in Process70,000 Credits320,000110,000400,000810, 000Bal. 31/12Factory Wages PayableBal. 1/1CreditsDebits179, 00010, 000175,0006,000Bal. 31/12Finished Goods40, e00Bal. 1/1DebitsBal, 31/12Credit130,000Cost of Goods SoldDebitsRequired:1. What was the cost of ravw materials put into production during the year?

The manufacturing costs include direct costs and indirect manufacturing costs. Direct cost includes…

Selected ledger accounts for Realm Company are given below for the just-completed year Bal. 1/1 Debits Bal. 31/12 Raw Materials 30,e00 Credits 4 20,e00 60, 000 Manufacturing Overhead 385,000 Credits Debits

Selected ledger accounts for Realm Company are given below for the just-completed year Bal. 1/1 Debits Bal. 31/12 Raw Materials 30,e00 Credits 4 20,e00 60, 000 Manufacturing Overhead 385,000 Credits Debits

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 13PB: Selected information from Hernandez Corporation shows the following: Prepare journal entries to...

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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.

Question

Please help me

Selected ledger accounts for Realm Company are given below for the just-completed year
Raw Materials
30 ,000
420,000
60, 800
Bal. 1/1
Credits
Debits
Bal. 31/12
Manufacturing Overhead
Credits
385, 000
Debits
Bal. 1/1
Direct materials
Direct labour
Overhead
Work in Process
70,000 Credits
320,000
110,000
400,000
810, 000
Bal. 31/12
Factory Wages Payable
Bal. 1/1
Credits
Debits
179, 000
10, 000
175,000
6,000
Bal. 31/12
Finished Goods
40, e00
Bal. 1/1
Debits
Bal, 31/12
Credit
130,000
Cost of Goods Sold
Debits
Required:
1. What was the cost of ravw materials put into production during the year?

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