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Category > Accounting Posted 30 Jul 2017 My Price 8.00

Newport Mfg. Co.

5.   The accounting records of Newport  Mfg.  Co. include the following information for the most recent year ended December 31:

 

 

 

Dec. 31

Jan. 1

Inventory of work in process . . . .

$ 20,000

$10,000

Inventory of finished goods . . . . .

80,000

60,000

Direct materials used  . . . . . . . . .

200,000

 

Direct labor . . . . . . . . . . . . . . . . .

120,000

 

Manufacturing overhead . . . . . . .

180,000

 

Selling expenses   . . . . . . . . . . . .

150,000

 

 

 

 

Indicate which of the following are correct. (More than one answer may be correct.)

a.      Amount debited to the Work in Process Inventory account during the year, $500,000.

b.      Cost of finished goods manufactured, $490,000.

c.      Cost of goods sold, $470,000.

d.      Total manufacturing costs for the year, $650,000.

 

 

 

 

ASSIGNMENT MATERIAL

Answers

Maurice Tutor
(5)
Status NEW Posted 30 Jul 2017 12:07 AM My Price 8.00

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