Direct Materials January 1 = $ 77,000 Direct Materials December 31 = 40,000 WIP January 1 = 66,000 WIP December 31 = 42,000 Finished Goods January 1 = 115,000 Finished Goods December 31 = 100,000 Other Information: Direct Materials Purchased = $ 324,000 Cost of Goods Available for Sale = 950,000 Actual Factory Overhead = 206,000 The cost of goods manufactured during the year is: Student Answer: $ 850,000. $ 348,000. $ 672,000. $ 835,000. $ 811,000.
Question 15. Question: If a firm has 1,200 completed and transferred out units, 200
Direct Materials January 1 = $ 77,000 Direct Materials December 31 = 40,000 WIP January 1 = 66,000 WIP December 31 = 42,000 Finished Goods January 1 = 115,000 Finished Goods December 31 = 100,000 Other Information: Direct Materials Purchased = $ 324,000 Cost of Goods Available for Sale = 950,000 Actual Factory Overhead = 206,000 The cost of goods manufactured during the year is: Student Answer: $ 850,000. $ 348,000. $ 672,000. $ 835,000. $ 811,000.
Question 15. Question: If a firm has 1,200 completed and transferred out units, 200