The following information has been taken from the perpetual inventory system of Jaxson Manufacturing Co. for the
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Question:
The following information has been taken from the perpetual inventory system of Jaxson Manufacturing Co. for the month ended September 30:
Hint: The missing Ending Materials Inventory amount on Sept 30 should be a simple calculation based on the information given. You will be asked to solve for various amounts based on your understanding of the relationships between these accounts, as we discussed.
Purchases of direct materials | $ | 87,000 | |
Direct materials used | $ | 66,800 | |
Direct labor costs assigned to production | $ | 45,000 | |
Manufacturing overhead costs incurred | $ | 47,500 | |
Balances in inventory | Sept 30 | Sept 1 | ||||
Materials | $ | ? | 59,000 | |||
Work in Process | $ | 37,000 | 52,500 | |||
Finished Goods | $ | 64,000 | 69,000 | |||
Total manufacturing costs added to Work in Process during September amount to:
Some other amount.
$174,800.
$159,300.
$179,500.
Related Book For
Financial Accounting for Decision Makers
ISBN: 978-0273763451
6th Edition
Authors: Peter Atrill, Eddie McLaney
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