Below are the year-end 2020 account balances for Catherine Manufacturing Ltd.: Direct materials: Beginning inventory...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Below are the year-end 2020 account balances for Catherine Manufacturing Ltd.: Direct materials: Beginning inventory 60,667 Purchases ? Ending inventory 79,333 Direct manufacturing labour ? Manufacturing overhead 130,667 Cost of goods manufactured 980,000 Beginning work-in-process inventory 51,333 Ending finished goods inventory 79,333 Beginning finished goods inventory ? Ending work-in-process inventory ? Manufacturing costs incurred in 2020 994,000 Cost of goods sold 1,003,333 Total manufacturing costs to account for 1,045,333 Direct materials used 550,667 Required: Calculate the amounts for: 1. direct material purchases, 2. direct manufacturing labour, 3. ending work-in-process inventory, and 4. beginning finished goods inventory
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
