Raw materials inventory totaled $16,350 on January 1. During the year, $152,600 of raw materials...
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Raw materials inventory totaled $16,350 on January 1. During the year, $152,600 of raw materials were purchased on account. 2. Finished goods on January 1 consisted of Job No. 7638 for $94,830 and Job No. 7639 for $100,280. 3. Job No. 7640 and Job No. 7641 were completed during the year. 4. Job Nos. 7638, 7639, and 7641 were sold on account for $577,700. 5. Manufacturing overhead incurred on account totaled $130,800. 6. Other manufacturing overhead consisted of indirect materials $15,260, indirect labor $19,620, and depreciation on factory machinery $8,720.
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