JJ Manufacturing Company has the following manufacturing details during the year. As company accountant, you are asked
Question:
JJ Manufacturing Company has the following manufacturing details during the year. As company accountant, you are asked toreconstruct its accounting record.
Purchases during the year 1,021,273.00
Direct materials available for use 1,170,777.00
Direct materials used 996,511.00
Total Manugacturing cost 2,489,098.00
Total cost of goods places in process 2,494,724.00
Total cost of goods manufactured 2,482,497.00
Total goods available for sale 2,737,053.00
Cost of goods sold 2,475,736.00
Factory overhead is 60% of direct labor cost.
Identify the following balances:
Beginning Ending
59-60 Direct Materials
61-62 Work in Progress
63-64 Finished Goods
65 Conversion cost
66 Direct Labor
67 Factory Overhead
68 Prime cost
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso