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Business, 07.10.2021 08:20 alejandro8212003
Raw materials were purchased on account, $690,000. Raw materials used in production, $641,800. All of of the raw materials were used as direct materials. The following costs were accrued for employee services: direct labor, $530,000; indirect labor, $150,000; selling and administrative salaries, $308,000. Incurred various selling and administrative expenses (e. g., advertising, sales travel costs, and finished goods warehousing), $457,000. Incurred various manufacturing overhead costs (e. g., depreciation, insurance, and utilities), $430,000. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all jobs during the year. Jobs costing $1,703,300 to manufacture according to their job cost sheets were completed during the year. Jobs were sold on account to customers during the year for a total of $3,510,000. The jobs cost $1,713,300 to manufacture according to their job cost sheets. 7. What is the ending balance in Work in Process?
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Raw materials were purchased on account, $690,000. Raw materials used in production, $641,800. All o...
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