Given the following information for year 2020: Direct material $175,000 Revenues $ 515,000 purchased Direct material...

 

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Given the following information for year 2020: Direct material $175,000 Revenues $ 515,000 purchased Direct material inventory 1/1 Finished goods inventory 1/1 Manuf. overhead $31,000 $45,000 Prime costs Gross margin 25% of conversion available for costs Cost of goods $ sale Direct labor $310,000 Calculate: (a) Manufacturing costs incurred during 2020. (b) Manufacturing costs to account for in 2020. 20% revenues WIP inventory $49,000 manufacturing, 1/1 (c) Cost of goods manufactured. (d) Costs of goods sold. 450,000 $ 180,000 Given the following information for year 2020: Direct material $175,000 Revenues $ 515,000 purchased Direct material inventory 1/1 Finished goods inventory 1/1 Manuf. overhead $31,000 $45,000 Prime costs Gross margin 25% of conversion available for costs Cost of goods $ sale Direct labor $310,000 Calculate: (a) Manufacturing costs incurred during 2020. (b) Manufacturing costs to account for in 2020. 20% revenues WIP inventory $49,000 manufacturing, 1/1 (c) Cost of goods manufactured. (d) Costs of goods sold. 450,000 $ 180,000

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a Manufacturing costs incurred during 2020 Direct material costs 1750... View the full answer