Question: I am needing help finding the work in process and finished goods. I was able to to calculate the materials. TIA please provide a good
I am needing help finding the work in process and finished goods. I was able to to calculate the materials. TIA please provide a good explanation on how to find it for the future thank you!

The following events took place for Sorensen Manufacturing Com a. Purchased $242,000 of materials. b. Used $174,240 of direct materials in production. c. Incurred $435,600 of direct labor wages. d. Incurred $174,200 of factory overhead. e. Transferred $735,700 of work in process to finished goods. f. Sold goods for $1,161,600. g. Sold goods with a cost of $653,400. h. Incurred $208,100 of selling expense. i. Incurred $121,000 of administrative expense
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
