The following information has been taken from the perpetual inventory system of Elite Manufacturing Company for the
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Question:
- The following information has been taken from the perpetual inventory system of Elite Manufacturing Company for the month ended August 31:
- Purchases of direct materials $ 76,000
- Direct materials used $ 62,500
- Direct labor costs assigned to production $ 20,000
- Manufacturing overhead costs incurred (and applied) $ 35,000
- Balances in inventory August 31 August 1 Materials $? $ 36,000
- Work in Process $ 60,000 $ 55,000
- Finished Goods $ 65,000 $ 47,800
- What is the cost of finished goods manufactured in August?
Related Book For
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
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