Question

Multiple Choice Question 119 Bonita Industries developed the following data for the current year: Beginning work in process inventory Direct materials used Actual overhead Overhead applied Cost of goods manufactured Total manufacturing costs $ 96000 208000 176000 184000 860000 816000 How much is Bonita Industries's ending work in process inventory for the year? O $52000 O $124000 O $444000 O $372000

Answer 1

Total manufacturing costs Add: Work-in-process inventory, January 1 Deduct: Work-in-process inventory, December 31 Cost of Goods Manufactured 816,000 96,000 24 25 26 27 28 29 30 52,000 (816000+96000-860000) 860,000 Answer A) 52000

Sales revenue Cost of goods sold: Beginning finished goods inventory Cost of goods manufactured Cost of goods available for sale Ending finished goods inventory Cost of goods sold Gross margin 2,994,000 48 49 50 51 52 53 54 70,000 1,965,000 26,000) 1,939,000 1,055,000 56 57 58 Answer A)1055000