Homework Answers
Answer: option $243,000
Working:
|
Beginning finished goods |
$ 58,000 |
|
(+) Cost of goods manufactured |
235000 |
|
Goods available for sale |
293000 |
|
(-) Ending finished goods |
-54000 |
|
Cost of goods sold |
$ 239,000 |
The manufacturing overhead is under applied by $4,000($83,000 - $79,000)
This amount should be added to cost of goods sold
$239,000 + $4,000 = $243,000
Answer: $1,300
|
Work-In-Process Inventory, April 1 |
400 |
|
Add: Direct materials used in production |
325 |
|
Add: Direct labor costs incurred |
500 |
|
Add: Manufacturing overhead costs |
450 |
|
Less: Work-In-Process Inventory, April 30 |
375 |
|
Transferred to Finished Goods |
$1,300 |
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