Hammer Inc., had the following activities during 20X3: Direct materials: Beginninginventory$ 20,000 Purchases61,600 Endinginventory10,400 Direct manufacturing laborincurred16,000
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Question:
Hammer Inc., had the following activities during 20X3:
Direct materials:
Beginninginventory$ 20,000
Purchases61,600
Endinginventory10,400
Direct manufacturing laborincurred16,000
Manufacturingoverhead-allocated12,000
Beginning work-in-processinventory800
Ending work-in-processinventory4,000
Beginning finished goodsinventory24,000
Ending finished goodsinventory16,000
Required:Please show your calculations!
a.What is the cost of direct materials used during 20X3?
b.What is cost of goods manufactured for 20X3?
c.What is cost of goods sold for 20X3?
d.What amount of conversion costs was added to production during 20X3?
Expert Answer:
a Cost of Direct Materials Used during 20X3 To find the cost of direct materials used we use the for... View the full answer
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