On January 31, a snowstorm damaged the office of a small business, and some of the accounting information stored in the computer’s memory was lost. The following information pertaining to January activities was retrieved from other sources: Direct materials purchased $24,840 Work in process—beginning inventory 2,760 Direct materials—beginning inventory 8,280 Direct materials—ending inventory 13,800 Finished goods—beginning inventory 16,560 Finished goods—ending inventory 3,450 Sales 82,800 Manufacturing overhead and direct labour incurred 30,360 Gross profit percentage based on net sales 40 %. Assume that $27,600 of direct materials was used in January and that the cost of goods available for sale in January amounted to $55,200. What did the ending work in process inventory amount to? Ending work in process inventory $e Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
On January 31, a snowstorm damaged the office of a small business, and some of the accounting information stored in the computer’s memory was lost. The following information pertaining to January activities was retrieved from other sources: Direct materials purchased $24,840 Work in process—beginning inventory 2,760 Direct materials—beginning inventory 8,280 Direct materials—ending inventory 13,800 Finished goods—beginning inventory 16,560 Finished goods—ending inventory 3,450 Sales 82,800 Manufacturing overhead and direct labour incurred 30,360 Gross profit percentage based on net sales 40 %. Assume that $27,600 of direct materials was used in January and that the cost of goods available for sale in January amounted to $55,200. What did the ending work in process inventory amount to? Ending work in process inventory $e Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On January 31, a snowstorm damaged the office of a small business, and some of the accounting information stored in the computer’s memory was lost. The following information pertaining to January activities was retrieved from other sources: Direct materials purchased $24,840 Work in process—beginning inventory 2,760 Direct materials—beginning inventory 8,280 Direct materials—ending inventory 13,800 Finished goods—beginning inventory 16,560 Finished goods—ending inventory 3,450 Sales 82,800 Manufacturing overhead and direct labour incurred 30,360 Gross profit percentage based on net sales 40 %. Assume that $27,600 of direct materials was used in January and that the cost of goods available for sale in January amounted to $55,200. What did the ending work in process inventory amount to?
| Ending work in process inventory | $e |
Note:-
- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
- Answer completely.
- You will get up vote for sure.
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