Business, 08.04.2020 04:27 codycollier

Beginning Inventories are: RM $1,000; WIP $2,500; FG $5,000 What are the journal entries for these inventory transactions? a. Purchased, on credit 10,000 lbs. of flour mix at $.50 per lb. b. Used 8,000 lbs. of flour in production c. A physical inventory of flour reveals an unaccountable shortage of 200 lbs. d. Added $4,000 of direct labor and applied $2,000 of manufacturing overhead to production. e. Completed production of $12,000 of finished goods. f. What are the balances in the Raw Material, WIP and Finished Goods?

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Beginning Inventories are: RM $1,000; WIP $2,500; FG $5,000 What are the journal entries for these i...

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