The following information has been taken from the perpetual inventory system of Elite Mfg. Co. for the month ended August 30: Purchases of direct materials $55,000 Direct materials used $45,000 Direct labor costs assigned to production $20,000 Manufacturing overhead costs incurred (and applied) $30,000 Balances in inventory August 30 August 1 Materials $? $20,000 Work in Process $60,000 $42,000 Finished Goods $55,000 $38,000 40. Total manufacturing costs charged (debited) to work in process during August amount to: a. $100,000. b. $110,000. c. $95,000. d. Some other amount.

The following information has been taken from the perpetual inventory system of Elite Mfg. Co. for the month ended August 30: Purchases of direct materials $55,000 Direct materials used $45,000 Direct labor costs assigned to production $20,000 Manufacturing overhead costs incurred (and applied) $30,000 Balances in inventory August 30 August 1 Materials $? $20,000 Work in Process $60,000 $42,000 Finished Goods $55,000 $38,000 40. Total manufacturing costs charged (debited) to work in process during August amount to: a. $100,000. b. $110,000. c. $95,000. d. Some other amount.

Principles of Accounting Volume 2

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ISBN:9781947172609

Author:OpenStax

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Chapter5: Process Costing

Section: Chapter Questions

Problem 11MC: Beginning inventory and direct material cost added during the month total $55,000. What is the value...

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Rexar had 1,000 units in beginning inventory before starting 9.500 units and completing 8,000 units. The beginning work in process inventory consisted of $5,000 in materials and $8,500 in conversion costs before $16,000 of materials and $18,500 of conversion costs were added during the month. The ending WIP inventory was 100% complete with regard to materials and 40% complete with regard to conversion costs. Prepare the journal entry to record the transfer of inventory from the manufacturing department to the finished goods department.
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The following information has been taken from the perpetual inventory system of Elite Manufacturing Company for the month ended August 31 Purchases of direct materials \$70,000 Direct materials used $53,500 Direct labor costs assigned to production$ 18,000 Manufacturing overhead costs incurred and applied) $ 35,000 Balances in inventory August 31 August 1 Materials$ ? $38,000 Work in Process $ 54,000 $ 52,000 Finished Goods $ 59,000 $ 46,000 Total manufacturing costs charged (debited) to Work in Process during August amount to:
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bartleby, a Learneo, Inc. business

Purchases of direct materials		$55,000
Direct materials used		$45,000
Direct labor costs assigned to production		$20,000
Manufacturing overhead costs incurred (and applied)		$30,000
Balances in inventory	August 30	August 1
Materials	$?	$20,000
Work in Process	$60,000	$42,000
Finished Goods	$55,000	$38,000 40.