QUESTION 32 Which is the appropriate order of presentation of the inventory accounts on the...
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QUESTION 32 Which is the appropriate order of presentation of the inventory accounts on the balance sheet of a manufacturing company? 1.Finished goods, Raw materials, Work in process 2. Work in process, Finished Goods, Raw materials 3. Finished Goods, Work in process, Raw materials 4. There is no specific order of presentation QUESTION 33 THE FOLLOWING INFORMATION APPLIES TO QUESTIONS 32 AND 33. Evans Inc. had the following activities during 2008: Direct materials: BEGINNING INVENTORY $ 40,000 Purchases 123,200 Ending inventory Direct manufacturing labor 20,800 Manufacturing overhead 32,000 24,000 Beginning work-in-process inventory 1,600 Ending work-in-process inventory 8,000 Beginning finished goods inventory 48,000 Ending finished goods inventory 32,000 What amount of prime costs was added to production during 2008? 1.5142,400 2. $ 56,000 3. $166,400 4. $174.400 QUESTION 34 What amount of conversion costs was added to production during 2008? 1. $ 56,000 2. $174,400 3. $192,000 4. $142,400
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