Mead, a manufacturer of school supplies, had the following beginning and ending inventories for their most popular
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Question:
Mead, a manufacturer of school supplies, had the following beginning and ending inventories for their most popular product, the Trapper Keeper notebook, for the year ended December :
January December
Raw Materials Inventory $ $
Work in Process Inventory $ $
Finished Goods Inventory $ $
In addition, direct labor costs of $ were incurred. Manufacturing overhead totaled $inclusive of indirect materials materials purchased were $ and selling and administrative costs were $ Mead sold units of the Trapper Keeper notebook during the year at a sales price of $ per notebook. Raw Materials Inventory includes both indirect and direct materials.
What were the total manufacturing costs added during the year assuming indirect materials used totaled $
Related Book For
Financial Accounting
ISBN: 978-0134725987
12th edition
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
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