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Basic Accounting Two Problems

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Question;1. Knox Manufacturing Company reported the following year-end information: beginning work in process inventory, $270,000, cost of goods manufactured, $1,074,000, beginning finished goods inventory, $380,000, ending work in process inventory, $330,000, and ending finished goods inventory, $409,000. Knox Manufacturing Company's cost of goods sold for the year is?2. Turnbull Manufacturing Company reported the following year-end information:Beginning work in process inventory $ 35,000Beginning raw materials inventory 20,000Ending work in process inventory 40,000Ending raw materials inventory 10,000Raw materials purchased 560,000Direct labor 180,000Manufacturing overhead 150,000How much is Turnbull Manufacturing?s total cost of work in process for the year?

 

Paper#40472 | Written in 18-Jul-2015

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