Telluride Products Company implemented a JIT work environment in its shovel division eight months ago, and the
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Ordered, received, and used handles and sheet metal costing $11,340.
Direct labor costs incurred, $5,400.
Overhead costs incurred, $8,100.
Completed shovels costing $24,800.
Sold shovels costing $24,000.
Using backflush costing, calculate the ending balance in the Work in Process Inventory and Finished Goods Inventory accounts.
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Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
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