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The cost of raw materials used during the year

 
Raw material inventory 1/1/2004                                                                      5,000
 
Raw material inventory 12/31/2004                                                               2,000
 
Direct labor charged to production during  2004                                   18,000
 
Factory overhead costs incurred during 2004                                          15,000
 
Cost of goods manufactured for the year of 2004                                  45,000
 
Work in process inventory, 1/1/2004                                                            5,000
 
Work in process inventtory 12/31/2004                                                    15,000
 
Finished goods inventory 1/1/2004                                                               15,000
 
Cost of goods sold                                                                                                     40,000
 
a. Determine the cost of material purchased
 
b. The cost of raw materials used during the year
 
c. The balance in the finished goods inventory account on dec.31, 2004

May 01 2018 View more View Less

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