Consider the following information for June: Work-in- Raw Process Finished Material (WIP) Goods Beginning inventory $ 60,000 $ 24,000 $ 60,000 Ending inventory $ 90,000 $ 45,000 $ 80,000 Other information: Net income (after adjustment) $ 779,000 Purchases $ 600,000 Cost of goods sold (before adjustment) $ 1,420,000 Sales $ 2,800,000 Direct labor $ 95,000 Compute APPLIED manufacturing overhead.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Consider the following information for June:
Work-in-
Raw
Process
Finished
Material
(WIP)
Goods
Beginning inventory
$
60,000 $
24,000 $
60,000
Ending inventory
$
90,000 $
45,000 $
80,000
Other information:
Net income (after adjustment)
$
779,000
Purchases
$
600,000
Cost of goods sold (before adjustment) $ 1,420,000
Sales
$ 2,800,000
Direct labor
$
95,000
Compute APPLIED manufacturing overhead.
Transcribed Image Text:Consider the following information for June: Work-in- Raw Process Finished Material (WIP) Goods Beginning inventory $ 60,000 $ 24,000 $ 60,000 Ending inventory $ 90,000 $ 45,000 $ 80,000 Other information: Net income (after adjustment) $ 779,000 Purchases $ 600,000 Cost of goods sold (before adjustment) $ 1,420,000 Sales $ 2,800,000 Direct labor $ 95,000 Compute APPLIED manufacturing overhead.
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