Cost Accounting (15th Edition)

Published by Prentice Hall
ISBN 10: 0133428702
ISBN 13: 978-0-13342-870-4

Chapter 2 - An Introduction to Cost Terms and Purposes - Assignment Material - Problems - Page 63: 2-39(2)

Answer

Work-in-process inventory, 3/31/2014 = 35,000 + 420,000 - 420,000 = 35,000

Work Step by Step

Total manufacturing costs added during the period = Direct materials used + Conversion costs Conversion costs = Total manufacturing costs added during the period - Direct materials used Conversion costs = 420,000 - 105,000 = 315,000 Work-in-process inventory, 3/31/2014 = Work-in-process inventory, 3/1/2014 + Total manufacturing costs added during the period - Cost of goods manufactured
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