The beginning balance of Work in Process Inventory was $40,000. During the year, direct materials of $200,000, direct labor of $100,000, and manufacturing overhead of $20,000 were charged to production. The ending inventory of work in process is $30,000. What is the cost of goods completed? $340,000 $390,000 $310,000 $330,000
The beginning balance of Work in Process Inventory was $40,000. During the year, direct materials of $200,000, direct labor of $100,000, and manufacturing overhead of $20,000 were charged to production. The ending inventory of work in process is $30,000. What is the cost of goods completed? $340,000 $390,000 $310,000 $330,000
Chapter5: Process Costing
Section: Chapter Questions
Problem 5EA: A company has 1,500 units in ending work in process that are 30% complete after transferring out...
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The beginning balance of Work in Process Inventory was $40,000. During the year, direct materials of $200,000, direct labor of $100,000, and manufacturing overhead of $20,000 were charged to production. The ending inventory of work in process is $30,000. What is the cost of goods completed?
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$340,000
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$390,000
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$310,000
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$330,000
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