On March 1, 2020, Gon Company Purchases materials amounting to 65,000, net of defective materials worth 5,000 returned to the supplier upon inspection of the quality control officers. Gon also incurred 5,000 freight-in for these purchases. The total cost of goods available for sale is 150,000. Other nformation pertaining to Gon Company's inventories for March is as follows: s Inventories 3/30/19 3/1/19 Finished Goods 80,000 80,000 Work in Process 55,000 22,000 Raw Materials 50,000 30,000

On March 1, 2020, Gon Company Purchases materials amounting to 65,000, net of defective materials worth 5,000 returned to the supplier upon inspection of the quality control officers. Gon also incurred 5,000 freight-in for these purchases. The total cost of goods available for sale is 150,000. Other nformation pertaining to Gon Company's inventories for March is as follows: s Inventories 3/30/19 3/1/19 Finished Goods 80,000 80,000 Work in Process 55,000 22,000 Raw Materials 50,000 30,000

Name: Compute the conversion cost charged to work in process account 125,00
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Description: Compute the conversion cost charged to work in process account 125,00050,00053,000103,000 On March 1, 2020, Gon Company Purchases materials amounting to 65,000, net of defective materialsworth 5,000 returned to the supplier upon inspection of the qu

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Muscat Company's accounting records reflect the following inventories: Dec. 31, 2020, Jan. 1, 2020 Raw materials inventory OMR 310,000 OMR 300,000 Work in process inventory 300,000 160,000 Finished goods inventory 190,000 150,000 During 2020, OMR 800,000 of raw materials were purchased, direct labor costs amounted to OMR 670,000, and manufacturing overhead incurred was OMR 640,000. How much is the total manufacturing costs for 2020? Select one: O a. OMR 2,060,000. O b. OMR 2,110,000. O c. None of the answers are correct O d. OMR 2,020,000. O e. OMR 2,100,000. ENG 07: INTL 25/05/
Muscat Company's accounting records reflect the following inventories: Dec. 31, 2020, Jan. 1, 2020 Raw materials inventory OMR 310,000 OMR 300,000 Work in process inventory 300,000 160,000 Finished goods inventory 190,000 150,000 During 2020, COMR 800,000 of raw materials were purchased, direct labor costs amounted to OMR 670,000, and manufacturing overhead incurred was OMR 640,000. How much is the total manufacturing costs for 2020? Select one: O a. OMR 2,100,000. Ob. OMR 2,060,000. O c. None of the answers are correct O d. OMR 2,110,000. O e. OMR 2,020,000.
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