# Eston Help Justine Industries is calculating its Cost of Goods Manufactured at year-end. Justine's accounting records...

eston Help Justine Industries is calculating its Cost of Goods Manufactured at year-end. Justine's accounting records show the following. The Raw Materials Inventory account had a beginning balance of $15,000 and an ending balance of$12,000. During the year, the company purchased $59,000 of direct materials. Direct labor for the year totaled$115,000, while manufacturing overhead amounted to $155,000. The Work in Process Inventory account had a beginning balance of$30,000 and an ending balance of $21,000. Assume that Raw Materials Inventory contains only direct materials Compute the Cost of Goods Manufactured for the year. (Hint The first step is to calculate the direct materials used during the year.) Start by calculating the direct materials used during the year. Justine Industries Calculation of Direct Materials Used For Current Year Plus: Choose from any list or enter any number in the input fields and then click Check Answer Justine Industries is calculating its Cost of Goods Manufactured at year-end. Justine's accounting records show the following: The Raw Materials Inventory account had a beginning balance of$15,000 and an ending balance of $12,000. During the year, the company purchased 559,000 of direct materials. Direct labor for the year totaled$115,000, while manufacturing overhead amounted to $155,000. The Work in Process Inventory account bad a beginning balance of$30,000 and an ending balance of $21,000. Assume that Raw Materials Inventory contains only direct materials Compute the Cost of Goods Manufactured for the year (Hint: The first step is to calculate the direct materials used during the year.) Calculation of Direct Materials Used For Current Year Plus: Less: Direct materials used Choose from any list or enter any number in the input fields and then click Check Answer ## Answers #### Similar Solved Questions 1 answer ##### Exhibit 12-2 Short Run Morginal Cost Average$105---- Total $88------ Cost Average Variable$55 - Cost...
Exhibit 12-2 Short Run Morginal Cost Average $105---- Total$88------ Cost Average Variable $55 - Cost 460 1675 600 Refer to Exhibit 12-2. Suppose the market price equals$88 and the firm is currently producing 600 units of output. In this situation, the firm: is maximizing profit. should increase p...
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6.2.24 Justify each Assume all vectors are in R. Mark each statement True or False. Justify each answer a. Not every orthogonal set in Rn is linearly independent. O A. False. Orthogonal sets must be linearly independent in order to be orthogonal. O B. True. Every orthogonal set of nonzero vectors is...