Southern Industries report the following information pertaining to a recent month: Job 1 Job 2 Job...
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Southern Industries report the following information pertaining to a recent month: Job 1 Job 2 Job 3 Direct Materials $50 $60 $30 Direct Labor 20 30 10 Manufacturing Overhead 40 60 20 By the end of the month, both Job 1 and Job 2 had been completed and sold. Job 3 is unsold. At month-end, what is the balance in finished goods inventory to be reported on the balance sheet? Answer: Southern Industries report the following information pertaining to a recent month: Job 1 Job 2 Job 3 Direct Materials $50 $60 $30 Direct Labor 20 30 10 Manufacturing Overhead 40 60 20 By the end of the month, both Job 1 and Job 2 had been completed and sold. Job 3 is unsold. At month-end, what is the balance in finished goods inventory to be reported on the balance sheet? Answer:
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lolulion 50 30 Diseuet Mat eials 10 20 Digrent labous 20 30 Ove... View the full answer
Related Book For
Financial Accounting An Introduction to Concepts, Methods and Uses
ISBN: 978-1133591023
14th edition
Authors: Roman L. Weil, Katherine Schipper, Jennifer Francis
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