JoJo Co. had the following balances and information for October. Beg. finished goods inventory = $30...

 

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JoJo Co. had the following balances and information for October. Beg. finished goods inventory = $30 Beg. work in process inventory = $5 Beg. raw materials inventory = $15 End. finished goods inventory $15 End. work in process inventory = $10 End. raw materials inventory = $25 Raw material purchases $100 Factory wages paid = $150 Indirect materials = $10 Indirect labor = $35 Other overhead costs $90 Sales = $550 Predetermined overhead rate=200% direct materials a) Cost of raw materials used equals: b) Cost of direct materials equals (RM - Ind Materials): Cost of direct labor equals (Factory wage - Ind Labor): d) Manufacturing overhead applied equals: e) Total manufacturing costs equal: f) Cost of goods manufactured equals: g) Cost of goods sold* equals: h) Gross profit equals: 100 X: RM Used Beg. RM + RM Purch. - End. RM IX X X X JoJo Co. had the following balances and information for October. Beg. finished goods inventory = $30 Beg. work in process inventory = $5 Beg. raw materials inventory = $15 End. finished goods inventory $15 End. work in process inventory = $10 End. raw materials inventory = $25 Raw material purchases $100 Factory wages paid = $150 Indirect materials = $10 Indirect labor = $35 Other overhead costs $90 Sales = $550 Predetermined overhead rate=200% direct materials a) Cost of raw materials used equals: b) Cost of direct materials equals (RM - Ind Materials): Cost of direct labor equals (Factory wage - Ind Labor): d) Manufacturing overhead applied equals: e) Total manufacturing costs equal: f) Cost of goods manufactured equals: g) Cost of goods sold* equals: h) Gross profit equals: 100 X: RM Used Beg. RM + RM Purch. - End. RM IX X X X