The following data has been taken from the accounting records of Curtis Manufacturing Company for the current
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Question:
The following data has been taken from the accounting records of Curtis Manufacturing Company for the current year:
Sales | $600,000 |
Purchases of raw materials | 350,000 |
Direct labor cost during period | 120,000 |
Manufacturing overhead incurred during period | 60,000 |
Raw Materials Inventory, beginning | 20,000 |
Raw materials Inventory, ending | 25,000 |
Work in Process Inventory, beginning | 47,000 |
Work in Process Inventory, ending | 32,000 |
Finished Goods Inventory, beginning | 75,000 |
Finished Goods Inventory, ending | 82,000 |
Required:
Compute the amount of raw materials moved into production during the period.
Compute the amount transferred to finished goods during the period.
Compute the amount of goods sold during the period.
Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078025655
7th edition
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old
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