3. Wendel Company reported the following year-end information: Beginning work in process inventory $ 35,000 Beginning raw
Question:
3. Wendel Company reported the following year-end information:
Beginning work in process inventory $ 35,000
Beginning raw materials inventory 18,000
Ending work in process inventory 38,000
Ending raw materials inventory 15,000
Raw materials purchased 560,000
Direct labor 210,000
Manufacturing overhead 120,000
How much is Wendel's total cost of work in process for the year?
4. Calladium Company had the following information on December 31:
Finished goods inventory, January 1 $ 90,000
Finished goods inventory, December 31 126,000
If the cost of goods manufactured during the year amounted to $1,895,000 and annual sales were $2,994,000, how much is the amount of gross profit for the year?
Fundamental Managerial Accounting Concepts
ISBN: 978-0078110894
6th Edition
Authors: Edmonds, Tsay, olds